Muktadir seeks 3-year LDC graduation prep extension
Photo: PID
Commerce Minister Khandakar Abdul Muktadir called for enhanced international assistance to facilitate a stable and sustainable exit from the Least Developed Country (LDC) category.
During high-level bilateral meetings at the United Nations Headquarters, Muktadir formally requested a three-year extension to the nation’s graduation preparatory timeline.
Muktadir presented the justification for the extension to ECOSOC President and Permanent Representative of Nepal Ambassador Lok Bahadur Thapa, as well as ECOSOC Vice-President and Permanent Representative of Algeria Ambassador Amar Bendjama.
He explained that various internal and external hurdles hindered the country's ability to utilize the original schedule, reports BSS.
According to a press release, Muktadir said Bangladesh could not fully utilise the originally scheduled preparatory period due to the country's ongoing economic and political transition, global economic uncertainties, the energy crisis, disruptions in supply chains, the multidimensional impacts of climate change and other external challenges.
He emphasized that the government remains firmly committed to the LDC exit and that the extension seeks to build resilience rather than postpone progress.
The minister reaffirmed, “the request for an extension was not intended to delay graduation but to make the transition smoother, more sustainable and more resilient.”
Muktadir added that the extra three years would allow Bangladesh to finalize structural reforms, bolster governance, and restore macroeconomic stability.
The government aims to strengthen the financial sector, create an investment-friendly climate, and upgrade infrastructure to effectively execute a comprehensive Smooth Transition Strategy.
A high-level delegation accompanied the minister, including Prime Minister’s Adviser on Finance and Planning Rashed Al Mahmud Titumir, State Minister of Planning Zonaed Abdur Rahim Saki, and Economic Relations Division (ERD) Secretary Md Shahriar Kader Siddiky.
The group also included Bangladesh’s Permanent Representative to the UN Ambassador Salahuddin Noman Chowdhury, Leather Goods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB) President Syed Nasim Manzur, and Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Mahmud Hasan Khan.
In response, the ECOSOC President and Vice-President acknowledged the significant global difficulties developing nations face during the graduation process. They pledged to collaborate closely with Bangladesh to ensure its transition remains smooth, sustainable, and stable.
