Bangladesh
Developing Country Bangladesh to become a developing country in 2026
Dhaka, March 15: The Committee for Development Policy (CDP) has recommended a five-year preparation period for Bangladesh instead of three years as a preparation for the transition from a least developed country to a developing country. As a result, in 2026, Bangladesh will be out of the list of least developed countries. The information was given at a workshop on 'LDC Graduation: Impact on RMG' in the conference room of the Commerce Ministry on Sunday (March 14).
Commerce Minister Tipu Munshi was present as the chief guest at the workshop. Cabinet Secretary Khandaker Anwarul Islam was present as the special guest. Commerce Secretary Dr. Md. Zafar Uddin presented the keynote address at the workshop.
According to the workshop, the ready-made garment industry has made a significant contribution to the socio-economic development of the country. Recently, the UN Committee for Development Policy (CDP) has recommended the transition of Bangladesh from a least developed country to a developing country. At the same time, after reviewing various indicators of the economy, the CDP has recommended a five-year preparation period for Bangladesh instead of three years as a preparation period considering the context of Covid-19. In other words, in 2026, Bangladesh will be out of the list of least developed countries, the impact of which will be felt first in the export trade.
Overall, the transition will review the impact of this on Bangladesh's international trade, what steps have been taken to address potential challenges, and what needs to be done in the future. Besides, the key export paper discusses the impact of the country's main export sector on the ready-made garment industry.
Bangladesh will face these challenges successfully, the Commerce Secretary said in the main article.
The Chief Guest, Special Guest, Panel Delegate and representatives of various Ministries, Offices, Agencies and Trade Organizations present on the occasion expressed hope that the Ministry of Commerce would strive to adopt and implement appropriate policies and strategies.
