B Mirror Desk:

The government’s preparatory activities for graduation from the Least Developed Country (LDC) list are continuing, said Manjur Hossain, a member of the General Economics Division (GED) of the Planning Ministry. However, he said the final decision on whether the graduation will happen now or be postponed will be taken by the next government.

Manjur Hossain made these remarks while speaking as a special guest at a seminar organized by the Dhaka Chamber of Commerce and Industry (DCCI) in Motijheel, Dhaka on Sunday (August 24). The event was presided over by DCCI President Taskin Ahmed. Special Fellow of the Center for Policy Dialogue (CPD) Mostafizur Rahman also spoke at the event.

Manjur Hossain said that government institutions and organizations are making various preparations for LDC transition. However, the government’s initiative alone is not enough, the private sector must also prepare in parallel. According to him, if preparations are not made now, the preparations will remain incomplete even after five years.

He said, “If we can accept Donald Trump’s 20 percent tariff, we will be able to overcome this challenge. Nepal is transitioning, we may ask for five years, that may not happen. It is better if it is postponed, but even if not, we have to be prepared.”

CPD Special Fellow Mostafizur Rahman said, “Bangladesh can request a postponement. However, the matter must be accepted by the UN General Assembly. In that case, Bangladesh’s position in the three indicators must be shown as low.”

He also said, “A per capita income of $1,300 qualifies for the transition. However, Bangladesh’s per capita income is currently more than $2,800. So time can be sought, but preparations must continue.”

The seminar was attended by economists, businessmen, and policymakers. They highlighted various aspects related to trade, exports, and investment, focusing on LDC transition, and expressed their opinions on the need for preparation.