Developing Country

Collected Bangladesh has been recently promoted to a developing country

High-level committee begins work to address next potential challenge after LDC graduation

The first meeting of the committee was held on Wednesday. Dr. Ahmed Kaikaus, Chief Secretary to the Prime Minister, attended the meeting from the Prime Minister's Office and presided over it. The meeting discussed various possible negative impacts on the country's economy, socio-economic context and other sectors, especially RMG and pharmaceuticals, in these export-oriented sectors.

Economic Department Secretary (ERD) Secretary Fatima Yasmeen presented a power point at the meeting. The committee has decided to address potential challenges in various sectors within a month. To this end, the senior secretary of the Ministry of Commerce. Md. A six-member sub-committee has been formed under the leadership of Zafar Uddin.

After the meeting, Secretary to the Prime Minister's Office (PMO) Md Tofazzal Hossain Mia told reporters, "The sub-committee has been asked to identify sector-based challenges and prepare an action plan within a month."

Mentioning that Bangladesh will lose various international assistance during this time, he said that after graduation, Bangladesh will have to make arrangements for duty free and quota free access from bilateral or multilateral sources. Because the country's financial facilities will be reduced.

He also said that the issue of international intellectual property law would shrink anytime after 2033.

At the meeting, the committee decided to organize a large-scale seminar with experts and academics from different sectors as soon as possible to get different views and opinions on the challenges facing LDC.