BNP’s acting chairman Tarique Rahman has cautioned that Bangladesh’s transition from the UN’s Least Developed Country (LDC) category, scheduled for November 2026, should not be seen merely as a celebratory milestone. He emphasized that the move carries both opportunities and risks, which could directly impact the economy and the people if not addressed properly.
In a Facebook post on Tuesday (September 16), Rahman urged the BNP to prepare for the potential challenges. He noted that without adequate preparations, the economy and citizens could face serious pressure.
Among the possible challenges he highlighted are:
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The loss of trade benefits, which could weaken the competitiveness of the garment industry.
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Reduced access to low-interest loans and aid, adding pressure to foreign reserves and debt-burdened finances.
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The end of World Trade Organization (WTO) privileges, such as subsidies and patent exemptions for medicines, which may raise drug prices.
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Risks of overdependence on a single export sector.
Rahman stressed that workers, farmers, and the youth must not be left vulnerable during this transition. To secure benefits from the graduation, Bangladesh needs immediate progress and opportunities for sustainable growth.
As part of his recommendations, he called for:
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Diversification of export industries beyond garments into ICT, pharmaceuticals, and value-added manufacturing.
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Stronger financial discipline to avoid debt traps and reinforce state institutions.
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Greater investment in productivity, trade logistics, and modern infrastructure to remain globally competitive.
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Implementation of foreign commitments on trade facilitation and green financing to support the transition.
