Bangladesh to seek Least Developed Country status benefits for 5 years after graduation


Bangladesh requested the international community for the continuation of international support measures for an extended period to make its upcoming graduation out of Least Developed Country (LDC) status smooth and sustainable.

According to a release from the Economic Relations Division (ERD) under the Ministry of Finance., Bangladesh will be recommended for graduation during the upcoming triennial review of the Committee for Development Policy (CDP) of the United Nations in February 2021.

Bangladesh has appealed during a session of the ongoing Expert Group Meeting (EGM) of the Committee for Development Policy (CDP) held on Tuesday as part of the preparations for the upcoming triennial review meeting.

Principal Coordinator (SDG Affairs) of the Prime Minister’s Office Juena Aziz led the Bangladesh delegation.

Secretary of the Economic Relations Division (ERD) Fatima Yasmin delivered a presentation during the session.

She highlighted the unprecedented socioeconomic progress achieved by Bangladesh in recent times, as well as the latest position of the country regarding graduation.

Bangladesh had met all the criteria for LDC graduation for consecutive second time, the country would be recommended for graduation during the upcoming triennial review in February 2021.

Bangladesh met all the criteria for LDC graduation for the first time during the last CDP triennial review, held in March 2018. According to the provisions of the United Nations, a country must be found eligible in two successive triennial reviews to be recommended by CDP for graduation.

If Bangladesh gets the five-year preparatory period for graduation after being recommended by CDP during the triennial review next month, the country will formally graduate out of the LDC status in 2026.

During this preparatory period, Bangladesh would be entitled to enjoy all the international support measures reserved for LDCs.

In addition, as per the existing provisions, the country would also remain eligible to enjoy duty-free, quota-free access to the European Union market for three more years, lasting till 2029.

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