Bangladesh gets three-year extension for LDC graduation

DHAKA: The United Nations General Assembly has unanimously approved a proposal to extend Bangladesh’s preparatory period for graduation from the Least Developed Countries (LDC) category by three years.

With the decision, Bangladesh’s graduation deadline has been extended to November 24, 2029. The proposal was adopted at the UN General Assembly on Thursday (October 29).

The decision is being viewed as a significant diplomatic achievement for the current government. The extension will give Bangladesh additional time to strengthen its economic capacity, diversify exports and prepare for the potential impact of losing LDC-related trade preferences and international support.

Bangladesh’s Permanent Representative to the United Nations, Ambassador Irene Zubaida Khan, said Bangladesh was graduating from the LDC category not merely because of an international process, but because graduation reflected the aspirations of its people. She described it as a national imperative and said the government was firmly committed to achieving this goal.

Following the formation of the new government, Bangladesh formally applied for an extension of its preparatory period on February 18. The application was made in view of global economic uncertainty, geopolitical tensions, changing international trade conditions, risks to energy and supply chains, and domestic economic challenges.

After the UN Committee for Development Policy (CDP) recommended Bangladesh’s request, the UN Economic and Social Council (ECOSOC) forwarded the matter to the General Assembly for a final decision on July 21.

To advance diplomatic efforts in support of the application, the government prepared a three-year action plan outlining specific programmes and targets for each year.

The extended period will provide Bangladesh with an opportunity to address structural weaknesses, diversify its export basket, improve infrastructure and supply chains, and implement necessary economic reforms.

Making effective use of the additional time to build a competitive, diversified and sustainable economy, while strengthening the country’s capacity to tackle post-graduation challenges, will now be a key priority for Bangladesh