Economists and business leaders have called for strong coordination between the government and private sector to ensure Bangladesh’s smooth transition from the Least Developed Country (LDC) category, emphasizing structural reforms, innovation, and partnership.
The call came at a seminar titled “LDC Graduation: Challenges & Prospects” organized by the Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) on Sunday evening in Dhaka.
Commerce Secretary Mahbubur Rahman said the government is committed to ensuring a smooth graduation process.
“Even after LDC graduation, we will have three years of transition period. We have requested a review of our situation and discussions with all stakeholders,” he said.
“Graduation is our reality; we have to do it. We are asking for a benefit period of three to five years, even if graduation happens in 2031,” he added.
In his welcome address, BMCCI President Shabbir A Khan said LDC graduation offers both opportunities and responsibilities.
“Graduation is inevitable but preparation is key. A National Smooth Transition Strategy, diplomacy, and public-private collaboration can turn challenges into opportunities for sustainable, inclusive growth,” he noted.
Presenting the keynote, Professor Dr Selim Raihan, Executive Director of SANEM, said Bangladesh must view graduation as a strategic shift requiring urgent reforms.
“We should explore any opportunity for deferral due to global uncertainty, but structural reform is non-negotiable,” he said, urging the government to implement the Smooth Transition Strategy (STS) to fix weaknesses in taxation, finance, and governance.
Chairing the discussion, Policy Research Institute Chairman Dr Zaidi Sattar said, “Political uncertainty has been added to global instability.
Therefore, we are in a critical state to graduate now,” adding that a delay could still be pursued.
CPD Research Director Dr Khondaker Golam Moazzem said Bangladesh is fully prepared for graduation.
“This is a structural change, not an emotional matter. There is no room for excuses,” he said, urging participants to treat graduation as an opportunity.
However, RAPID Chairman Dr A Razzaque called for more time, saying, “There are many unexpected changes happening globally. We need three more years to prepare better.”
BCI President Anwar-Ul-Alam Chowdhury (Parvez) said both the government and private sector need more preparation.
“Our logistics costs are higher than in the UK. Energy issues and high-interest rates remain serious concerns,” he said.
Bangladesh’s LDC graduation debate intensifies amid ‘economic risks’
Former BGMEA President Faruque Hassan also sought an extension, saying, “We are not against graduation. We just want a little more time to prepare.”
The speakers stressed the need for export readiness, institutional reforms, and targeted support for SMEs and vulnerable industries to offset the loss of LDC-specific benefits.
BMCCI Secretary General Md Motaher Hoshan Khan, in his vote of thanks, reaffirmed the chamber’s commitment to promoting dialogue and cooperation between the public and private sectors.
The seminar was attended by BMCCI board members, past presidents, senior government officials, industry representatives, and media.