Bangladesh’s LDC Graduation: Diplomatic Barriers Clear Despite Calls for Delay

PNN News Desk | Dhaka

Although proposals to delay Bangladesh’s graduation from the Least Developed Country (LDC) status have surfaced, economists say it is not diplomatically easy. Even if an application is submitted, it must be based on clear data, and Bangladesh’s position on the three graduation criteria is already strong.

These issues were discussed at a seminar organized by the Bangladesh-Malaysia Chamber on Sunday evening in a hotel in Dhaka. The keynote paper was presented by Selim Raihan, Executive Director of the South Asian Network on Economic Modeling (SANEM), and Commerce Secretary Mahbubur Rahman was the special guest.

Commerce Secretary Mahbubur Rahman said: “Even after LDC graduation, we have three years of transition. We are seeking free trade agreements with major markets and are in discussions with South Korea, Europe, and Australia. Graduation is inevitable—it must happen.” He added that additional three-to-five-year benefits would help better prepare the country.

SANEM Executive Director Selim Raihan said: “Despite political and economic challenges, delaying graduation is diplomatically uncertain. Our position on all three criteria is strong. If we request a delay, other countries may oppose it, and Bangladesh may appear weak internationally.”

CPD Research Director Khandakar Golam Mouazzem added: “We are fully prepared for graduation. It is a structural process, not an emotional issue. Delaying now will make it more difficult in the future.”

Business leaders, however, believe more time is needed for better preparation. Anwar Ul Alam Chowdhury Parvez, President of the Bangladesh Chamber of Industries (BCI), said: “Not only the private sector, but the government also needs time. Logistic costs, energy issues, and interest rates—all require preparation time.”

BGMEA former president Faruk Hasan noted: “We are not against graduation, but more time is needed to prepare. Exports have dropped in the last three months, and global demand may fall.”

Seminar participants agreed that while graduation is positive, extra time is necessary to ensure preparedness. Global uncertainty and political instability make immediate implementation challenging.