Govt Reassessing LDC Graduation Amid Economic Challenges: Anisuzzaman:

The government is reassessing Bangladesh’s scheduled graduation from Least Developed Country (LDC) status in light of global and domestic economic challenges, newly appointed Chief Adviser’s Special Assistant for the Ministry of Finance Dr. Anisuzzaman Chowdhury said today.

Speaking at a press briefing after meeting with Finance Adviser Dr. Salehuddin Ahmed at the Ministry of Finance, Anisuzzaman said that a committee led by the principal secretary has already been formed to evaluate the potential implications of the transition.

“The committee has begun its work. I believe a decision will be made soon,” he said.

Bangladesh is set to transition from LDC status to a developing nation in November 2026. However, businesses have expressed concerns over losing preferential trade benefits, which could significantly impact exports and economic stability.

To ease the transition, the World Trade Organization (WTO) agreed at its last Ministerial Conference to allow LDC trade benefits for an additional three years, but each graduating country must negotiate these privileges bilaterally.

The European Union has already confirmed that Bangladesh will continue to receive LDC trade benefits until 2029, thanks to its grace period policy. Other countries, including Canada, the UK, and Australia, have also pledged to extend trade benefits beyond the graduation deadline.

Addressing concerns about the transition, Dr. Anisuzzaman said that if the government decides to apply for a two-year delay in LDC graduation, it will have to submit a comprehensive, credible, and implementable roadmap to justify the request.

“We are deeply reassessing all aspects. No decision has been made yet, but we have the right to apply for reconsideration. If we do, we must present a clear roadmap, and we are actively working on it,” he said.

Dr. Anisuzzaman also emphasized the importance of recovering laundered money, saying that international organizations, including the World Bank, are assisting Bangladesh in this effort.

“Recovering laundered money is a lengthy and legally complex process, but it is critical for our economy. We are hopeful that we can retrieve these funds,” he added.

Additionally, he urged citizens to comply with tax regulations to strengthen the country’s financial foundation. “We must ensure resource mobilization and develop our capital market to sustain economic growth,” he said.