Dhaka: BNP Acting Chairman Tarique Rahman today emphasized the necessity for Bangladesh to achieve real, tangible progress and opportunities for its citizens before it can fully benefit from graduating from the UN’s Least Developed Country (LDC) category. He shared his views in a Facebook post from his verified account.
According to Bangladesh Sangbad Sangstha, Rahman detailed the implications of the upcoming transition set for November 2026. He raised concerns about the resilience of Bangladesh’s businesses, which he described as the engines of growth within communities. Rahman cautioned that the graduation, while a significant milestone, comes with risks and challenges that must be acknowledged as they could directly affect the country’s economy and its people.
Rahman highlighted the potential loss of trade preferences as a major issue, which could negatively impact the competitiveness of Bangladesh’s garments exports. Additionally, he pointed out that access to concessional loans and aid will likely decrease, adding financial pressure at a time when the country’s reserves and debts are already under strain. He also noted that the trade privileges currently afforded by the World Trade Organization (WTO), such as flexibility on subsidies and medicine patents, will no longer be applicable, which may increase the cost of essential medicines.
To address these challenges, Rahman urged for urgent steps to protect homegrown businesses from vulnerability. He suggested diversifying the export base beyond garments to include ICT, pharmaceuticals, and other value-added industries. He also called for strengthening public institutions to maintain better financial discipline and investing in productivity, trade logistics, and modern infrastructure to remain globally competitive. Furthermore, he emphasized the importance of actualizing foreign commitments on trade facilities and green financing to support the transition.
Rahman concluded by stressing that tangible progress is essential to ensure that Bangladesh’s workers, farmers, and youth are not left in a precarious position as the country moves towards graduation from the LDC category.