Commerce advisor stresses trade facilitation roadmap implementation for LDC graduation

He believes coordinated efforts among working groups will help define specific goals

Bangladesh must enhance efficiency and competitiveness to tackle the challenges of its transition from the Least Developed Country, or LDC, category to a developing nation, Commerce Advisor Sheikh Bashir Uddin.

He stressed the need to implement the trade facilitation roadmap for this transition.

Speaking at the eighth meeting of the National Trade Facilitation Committee, or NTFC, on Tuesday, the advisor pointed out that Bangladesh is set to graduate from LDC status in November 2026.

This will bring new regulations on exports, and the country must increase its capabilities to overcome the economic impact of these changes, he added.

The meeting, organised by the commerce ministry, was held at the Bangladesh Institute of Administration and Management, or BIAM, Foundation auditorium in Dhaka.

Chief Advisor’s Special Envoy for International Affairs Lutfe Siddiqi attended as a guest, the ministry said in a statement.

In his speech, Bashir highlighted that Bangladesh has time until 2030.

"It is a significant period. If we graduate from LDC status in 2026 and the working groups collaborate, we can set clear targets," he said.

The special envoy stressed the need to set a specific timeline for implementing initiatives, increasing capabilities, and facilitating business.

"We want to enhance coordination and cooperation," he said.

The ministry said the primary goal of the Trade Facilitation Agreement, or TFA, is to review international trade regulations and procedures to liberalise trade, accelerating the movement and expansion of imports and exports.