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Published : 17 May 2026, 07:57 PM
Commerce Minister Khandakar Abdul Muktadir has emphasised the necessity of maintaining the competitive edge of the ready-made garments (RMG) sector after Bangladesh officially graduates from the least developed country (LDC) bracket.
He also underscored ensuring preferential access to international markets as “extremely important” during a meeting with New Zealand’s non-resident High Commissioner David Pine at the Secretariat on Sunday, the ministry said.
It said in a statement that New Zealand expressed interest in continuing duty-free and preferential market access even after Bangladesh’s graduation to a developing country, while also seeking to expand bilateral trade and investment.
The meeting also discussed the effective use of existing regional frameworks to strengthen trade cooperation between the two countries and explored the possibility of a comprehensive bilateral free trade agreement (FTA).
The commerce minister said rapid investment growth and job creation were essential for making Bangladesh’s LDC graduation successful.
Highlighting the government’s initiatives to ease doing business, he said New Zealand investors could benefit by investing in Bangladesh’s “promising sectors”.
On Apr 23, Bangladesh’s Permanent Representative to the United Nations Salahuddin Noman Chowdhury sought an extension of the transition period from LDC status.
He made the call during the general debate of the “ECOSOC Forum on Financing for Development” at the UN Headquarters.
Alongside seeking more time, the government is also preparing for the transition. Bangladesh is scheduled to graduate from the LDC category on Nov 24, 2026.
As an LDC, Bangladesh currently enjoys duty-free and quota-free access to European export markets. Those benefits will no longer remain after graduation to a developing country.
During Sunday’s meeting, the commerce minister also stressed the need for “large-scale investment” every year to sustain economic growth, even beyond the LDC transition.
David Pine said New Zealand was giving “special importance” to ensuring that Bangladesh’s existing duty-free and preferential market access facilities are not disrupted after its graduation from LDC status.
