Commerce minister requests 3-year extension of LDC graduation preparatory period

Commerce Minister Khandaker Abdul Muktadir has requested a three-year extension of the preparatory period for Bangladesh's graduation from the Least Developed Country (LDC) list. He said Bangladesh remains firmly committed to the graduation.

He made the request during separate meetings with the President of the UN Economic and Social Council (ECOSOC), Ambassador Lok Bahadur Thapa of Nepal, and ECOSOC Vice-President Ambassador Amr Benjama of Algeria at the UN headquarters on Saturday, July 18.

The ECOSOC President and Vice-President expressed their commitment to work closely to ensure a smooth, sustainable and stable graduation for Bangladesh.

The commerce minister highlighted Bangladesh's rationale for extending the preparatory period, citing ongoing economic and political transitions, global economic uncertainty, energy crisis, supply chain disruptions and the multifaceted impacts of climate change.

He clarified that the request is not to delay graduation but to ensure a smooth, sustainable and stable transition by consolidating structural reforms, strengthening governance, restoring macroeconomic stability and creating a more investment-friendly environment.

The Bangladesh delegation included Prime Minister's Adviser on Finance and Planning Rashid Al Mahmud Titumir, Planning State Minister Md Jonaid Abdur Rahim Saki, ERD Secretary Md Shahriar Kader Siddiky and Bangladesh's Permanent Representative to the UN Ambassador Salahuddin Noman Chowdhury.