Bangladesh Seeking 3-Year Deferral Of LDC Graduation: Commerce Secretary

Commerce Secretary Mahbubur Rahman said on Tuesday that the government is seeking to delay Bangladesh’s graduation from the Least Developed Countries (LDCs) category by three years.

He, however, noted that the likelihood of success is low, as countries such as India and the United States, along with other friendly nations, are opposing the move.

Rahman made the remarks at a workshop on U.S. reciprocal tariffs and LDC graduation, organized by the private research organization RAPID at the CIRDAP auditorium in Dhaka.

Economic Reporters Forum (ERF) President Doulat Akter Mala attended the event as guest of honor.

At the workshop, RAPID Chairman M. A. Razzaque presented a research report, which projected that Bangladesh’s exports to the U.S. market could drop by 14 percent next year due to reciprocal tariffs. Competing countries are also expected to see declines, with China’s exports potentially falling by 58 percent, India’s by 48 percent, Vietnam’s by 28 percent, and Indonesia’s by 27 percent.

The session was moderated by RAPID’s Executive Director M. Abu Eusuf.