Dhaka – Bangladesh has once again requested a three-year extension to the preparatory period in order to ensure a smooth, sustainable, and stable graduation from the Least Developed Country (LDC) category to developing nation status.
Commerce Minister Khandaker Abdul Muktadir made the request during a meeting with senior officials of the United Nations Economic and Social Council (ECOSOC) at UN headquarters in New York.
Bangladesh was originally scheduled to graduate this year. However, the global economic downturn triggered by COVID-19, the successive wars between Russia and Ukraine, US-Israeli strikes on Iran, and domestic political volatility have made the country’s preparation increasingly difficult.
Earlier, Bangladesh formally submitted a request to the United Nations Committee for Development Policy (UNCDP) for a three-year deferment, pushing the graduation date to November 24, 2029. The UNCDP has reviewed and endorsed the request, though final approval is still pending from the UN General Assembly.
During the meeting, the commerce minister cited several factors hindering Bangladesh’s ability to fully utilize the originally scheduled preparatory period, including domestic political transition, global economic uncertainty, the energy crisis, supply chain disruptions, climate change fallouts, and other external challenges.
According to a press statement released by the commerce ministry on Saturday, the minister held discussions with ECOSOC President Lok Bahadur Thapa, who also serves as Nepal’s Permanent Representative to the UN, and Vice-President Amar Bendjama, who is Algeria’s Permanent Representative.
The minister reaffirmed Bangladesh’s commitment to graduating from the LDC category, emphasizing that the extension request is not intended to delay the process but rather to make the transition smoother, more sustainable, and more resilient.
He added that additional time would allow Bangladesh to consolidate structural reforms, strengthen governance, restore macroeconomic stability, reinforce the financial sector, foster a more investment-friendly environment, improve infrastructure, and effectively implement a comprehensive smooth transition strategy.
The Bangladesh delegation included the Prime Minister’s Adviser on Finance and Planning, Rashed Al Mahmud Titumir, State Minister for Planning Zonaed Abdur Rahim Saki, Economic Relations Division (ERD) Secretary Shahriar Kader Siddiky, Bangladesh’s Permanent Representative to the United Nations Ambassador Salahuddin Noman Chowdhury, President of the Leather Goods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB) Syed Nasim Manzur, and President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Mahmud Hasan Khan.
In response, the ECOSOC President and Vice-President acknowledged the broader global challenges facing developing countries as they graduate from the LDC category and expressed their commitment to working closely with Bangladesh to ensure its smooth, sustainable, and stable transition.
