Chief Adviser Prof Muhammad Yunus today directed all concerned to remain prepared for facing any possible challenges as Bangladesh graduates from LDC next year. Dr Yunus made the directive during a meeting of the Council of Advisers, said his Press Secretary Shafiqul Alam at a press briefing at the Foreign Service Academy here.
Chief Adviser Prof Muhammad Yunus attends meeting of the Council of Advisers on Thursday. Photo: PID
He said several position papers have been prepared accordingly.
“We are making adequate preparation. We can say that when we graduate in 2026, Bangladesh’s dignity will be enhanced further internationally, and its capacity in terms of doing business will also be boosted,” the press secretary said.
Bangladesh is scheduled to graduate from the Least Developed Country (LDC) category to a developing nation in November 2026.
The LDC graduation, Alam said, has long been on discussion, and a final decision has been taken in today’s meeting that Bangladesh will go for the graduation in 2026.
The Chief Adviser directed to take preparation from now to address the challenges that might come, he added.
In reply to a query, Alam said the existing facilities Bangladesh is now enjoying will continue for the next three years after its graduation from LDC.
After graduation, Bangladesh will become ineligible for almost all trade benefits, such as zero duty access, and abide strictly by the Trade Related Aspects of Intellectual Property Rights (TRIPs).
However, Bangladesh will continue to enjoy duty-free market access for three more years after its graduation to a developing nation in 2026.
The extension was endorsed by 166 members of the World Trade Organisation (WTO) at its Ministerial Conference held in Abu Dhabi a year ago.
Chief Adviser’s Deputy Press Secretaries Apurba Jahangir and Abul Kalam Azad and Senior Assistant Press Secretary Foyez Ahammad were present.
