Written by The Banking Post
The government is set to hold a high-level national consultation on April 5 to review Bangladesh’s readiness to graduate from the Least Developed Country (LDC) category, as it pushes to shift the graduation timeline to 2029.
The meeting, scheduled at the NEC Conference Room in Sher-e-Bangla Nagar, comes after Bangladesh formally sought a three-year deferral of its graduation from the current target of 2026. The move is aimed at giving the economy more time to stabilise amid global inflation and external pressures, while allowing the country to retain duty-free trade privileges for a longer period.
The discussion will be based on a “Graduation Readiness Assessment” report prepared by the UN Office of the High Representative for LDCs, Landlocked Developing Countries and Small Island Developing States.
Finance and Planning Minister Amir Khosru Mahmud Chowdhury is expected to attend as chief guest, while the foreign and commerce ministers, the prime minister’s adviser on finance and planning, and UN Under-Secretary-General Rabab Fatima are likely to join as special guests. Economic Relations Division (ERD) Secretary Md Shahriar Kader Siddiky will chair the session.
Officials said the consultation will examine the UN report’s findings and help develop a coordinated national strategy to ensure a smooth transition from LDC status.
Graduation from the LDC category is considered a major development milestone, reflecting progress in income levels, human resources and economic resilience. However, it also means the gradual loss of some trade preferences and concessional financing.
The dialogue will bring together representatives from the government, private sector and development partners to identify challenges and opportunities linked to the transition.
Officials said the ERD is leading the process with a focus on “smooth transition strategies” to help sustain growth after graduation.
An official involved in the process said the proposed 2029 timeline would allow Bangladesh to retain the European Union’s Everything But Arms (EBA) facility and other Generalised System of Preferences (GSP) benefits for a longer period.
“It will also help the country cope with foreign exchange pressures, global supply chain disruptions and prepare local industries for the eventual withdrawal of subsidies and concessional financing,” the official said.
Despite consistently meeting the UN’s graduation criteria—including per capita income, human assets and economic vulnerability—the government is opting for a cautious approach to ensure a stronger and more resilient transition.
