Bangladesh secures three-year LDC graduation deferment

By Beyond Headlines

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Bangladesh has secured a three-year deferment of its least developed country (LDC) graduation after the United Nations General Assembly adopted the proposal on 29 October, extending the deadline from November 2026 to 24 November 2029.

The campaign began on 18 February when Commerce Minister Khandakar Abdul Muktadir announced the bid and the Economic Relations Division petitioned the UN Committee for Development Policy (CDP). 

Prime Minister Tarique Rahman wrote to the UN Secretary-General regarding the deferment on 6 April.

In a 29 April consultation featuring Adviser Dr Rashed Al Mahmud Titumir, State Minister Md Zonayed Abdur Rahim Saki and business leaders, Bangladesh cited trade volatility, incomplete reforms and the Iran conflict, securing CDP backing on 1 June.

Commerce Minister Khandakar Abdul Muktadir also secured Group of 77 support, coordinated jointly with Nepal. 

He also met EU Trade Commissioner Maros Sefcovic in Cameroon, UN High Representative Rabab Fatima, Swiss Ambassador Reto Renggli and ECOSOC leaders Lok Bahadur Thapa and Amar Bendjama.

After a 2 July diplomatic briefing in Agargaon, ECOSOC unanimously recommended extending Bangladesh's and Nepal's preparatory periods on 21 July through a draft introduced by then UN envoy Salahuddin Noman Chowdhury.

Having submitted a time-bound action plan to the European Union, Bangladesh now aims to use the extended period for banking, energy and structural reforms alongside EU free trade agreement negotiations.

Source: BSS

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