Chief Adviser calls for exploring pathways to advance LDC graduation efforts

A high-level review meeting on Bangladesh’s preparations to graduate from Least Developed Country (LDC) status to a developing nation was held today, with Chief Adviser Professor Muhammad Yunus in the chair.

The meeting took place at the Chief Adviser’s Office (CAO) in Tejgaon, Dhaka, according to Deputy Press Secretary Abul Kalam Azad Majumder.

The session reviewed the implementation progress of 16 key decisions. Of these, the National Board of Revenue (NBR) is responsible for four, the Ministry of Industries for three, the Economic Relations Division for two, the Ministry of Commerce for three, and the Chief Adviser’s Office itself for four.

NBR Chairman Md Abdur Rahman Khan informed the meeting that the NBR is working toward full implementation of the National Single Window. So far, 19 agencies have been integrated into the system, with more to follow.

He also briefed the Chief Adviser on the preparation and progress of the implementation work-plan for the Tariff Policy 2023.

The meeting further discussed offering support and incentives to export sectors beyond ready-made garments, including duty-free import facilities for raw materials related to man-made fibers and industrial machinery.

Other topics included the full activation of the Effluent Treatment Plant (ETP) in Savar’s Tanari Village, the operational launch of the API Park in Gazaria, Munshiganj, and updates to the Industrial Policy 2022.

Addressing the meeting, Chief Adviser Prof Yunus said the potential of the leather industry had not been properly recognized.

“We were supposed to gain economically from this industry, but that did not happen,” he said.

He instructed officials to convene a separate meeting specifically focused on resolving the crisis in the leather sector.

Additionally, he called for another meeting within two months to explore strategies for Bangladesh’s successful transition from LDC status.

“We must act in our own interest and for the sake of our economy. We need to identify pathways for progress by reforming policies and laws that are no longer effective. These are fundamental issues vital to our graduation,” said Prof Yunus.

The meeting was attended by Finance Adviser Dr Salehuddin Ahmed, Industries Adviser Adilur Rahman Khan, Environment Adviser Syeda Rizwana Hasan, Shipping Adviser M Sakhawat Hossain, Health Adviser Nurjahan Begum, Cabinet Secretary Sheikh Abdur Rashid, Principal Secretary to the Chief Adviser M Siraz Uddin Miah, Bangladesh Bank Governor Ahsan H Mansur, and senior officials from various ministries.