Yunus seeks full WTO support for smooth LDC graduation

Chief Adviser Professor Dr. Muhammad Yunus has called for the full support of the World Trade Organization (WTO) to ensure Bangladesh’s seamless graduation from Least Developed Country (LDC) status to a developing nation by 2026.

Dr. Yunus made the remarks during a meeting with WTO Director-General Dr. Ngozi Okonjo-Iweala at the United Nations Headquarters in New York, on the sidelines of the 80th session of the UN General Assembly.

“Several countries have faced setbacks after graduating from LDC status due to the loss of preferential trade benefits. It is crucial that Bangladesh does not encounter similar obstacles,” said Dr. Yunus. He emphasized the need for effective WTO measures and urged for meaningful decisions in the upcoming ministerial conference.

In response, Dr. Okonjo-Iweala assured Bangladesh of the WTO’s full cooperation. “The WTO must undergo reforms. I seek your active participation and leadership in this process,” she said, praising Bangladesh’s proactive stance on global trade issues.

The two leaders also discussed pressing challenges in global trade, including the need for long-awaited WTO reforms. Despite growing concerns over protectionism and a retreat from globalization, Dr. Okonjo-Iweala noted that approximately 75 percent of global trade still operates under WTO rules.

Echoing the call for reform, Dr. Yunus stressed the need for the WTO to play a more active role in today’s fast-evolving trade environment. “This is a time for bold action. Bangladesh is prepared to play a strong role in advancing meaningful change,” he stated.

Also present at the meeting were Energy Adviser Fouzul Kabir Khan, Special Envoy to the Chief Adviser Lutfey Siddiqi, and Chief Coordinator for SDGs Lamia Morshed.