Written by The Banking Post
Bangladesh’s private sector should begin lobbying through international partners to delay the country’s graduation from least-developed country (LDC) status, speakers at a seminar in Dhaka said on Saturday.
Special Assistant to the Chief Adviser Dr Anisuzzaman Chowdhury warned that while the next elected government may take the final decision, the United Nations is unlikely to grant an extension based only on broad economic challenges. He urged businesses to use their links with global buyers to advocate for more time.
At the Economic Reporters’ Forum event, experts cautioned that Bangladesh is not fully prepared to leave the LDC group. They advised highlighting food, health, and energy security concerns instead of relying on “manipulated” data.
Policy Exchange Bangladesh Chairman Dr Mashrur Reaz said the country remains heavily dependent on imports for food and agriculture, while an energy crisis—rooted in import reliance since 2011—continues to strain the economy. “The situation cannot be fixed overnight,” he noted, adding that reserves have stabilised after monthly losses of over $700 million under the previous regime.
Reaz also flagged weaknesses in competitiveness, logistics and participation in global value chains. “Bangladesh’s share is only 20–22 percent, compared to Vietnam’s 66 percent,” he said, stressing that top officials are not treating graduation as a priority.
Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) President Mohammad Hatem claimed graduation was decided on “inflated” export figures. “The economy is still on life support, and that alone justifies seeking a delay,” he said, warning that premature graduation could jeopardise export earnings and future GSP Plus benefits in Europe. He suggested a three-year deferral and called for a meeting between exporters and the government.
Chief Adviser’s Press Secretary Shafiqul Alam attended the session as a special guest. Also present were BGMEA Senior Vice President Inamul Haq Khan Bablu and BAPI CEO Md Mustafizur Rahman. ERF President Doulat Akter Mala chaired the discussion, with Secretary General Abul Kasem moderating.
