LDC-graduation

The European Union (EU) wants to work with Bangladesh to ensure a smooth and successful graduation from the list of least developed countries (LDCs). At the same time, the EU is interested in exploring the possibility of a free trade agreement (FTA) with Bangladesh in the future. European Union Ambassador to Bangladesh Michael Miller said this in his remarks at the Bay of Bengal Conversation held at the Sonargaon Hotel in the capital on Sunday. Michael Miller said Bangladesh is at an impo...

Reducing excessive dependence on the readymade garment sector and diversifying the country’s exports requires diversification in both products and markets to make exports sustainable. Against the backdrop of global economic uncertainty, the challenges following LDC graduation and the risk of losing duty free benefits, stakeholders are calling for an end to dependence on specific products and countries. In this context, the government has strengthened strategic measures aimed at achieving i...

Bangladesh’s international trade and export sector are facing discrimination due to high tariffs and para tariffs, according to the World Bank. The organization said that outside the readymade garment sector, selling goods in the local market is more profitable than exporting them, creating a form of “antiexport bias” in the economy. Against this backdrop, the World Bank has urged trade policy reforms and tariff reductions ahead of Bangladesh’s graduation from the Least Developed Country (...

Bangladesh’s current trade policy and tariff structure have emerged as major obstacles to export diversification and investment attraction. Not only the high tariff structure is forcing the country’s 180 million consumers to buy goods at nearly double global prices, but also a severe...