Written by The Banking Post
Commerce Secretary Mahbubur Rahman on Tuesday said that the government is trying to defer Bangladesh’s graduation from the list of Least Developed Countries (LDCs) by three years.
However, the chances of success are slim, as countries like India and the United States, among other friendly nations, are opposing the move, he stated.
He made these remarks at a workshop on U.S. reciprocal tariffs and LDC graduation, organized by the private research organization RAPID.
The event was held at the CIRDAP auditorium in Dhaka.
Economic Reporters Forum (ERF) President Doulat Akter Mala spoke on the occasion as the guest of honor.
During the workshop, a research report was presented by RAPID Chairman M. A. Razzaque.
He said that due to reciprocal tariffs, Bangladesh’s exports to the U.S. market could decline by 14 percent over the next year. Similarly, exports from competing countries are also expected to decrease in this market. Among them, China’s exports may fall by 58 percent, India’s by 48 percent, Vietnam’s by 28 percent, and Indonesia’s by 27 percent.
RAPID’s Executive Director M. Abu Eusuf moderated the workshop.
