Speakers at a high-level dialogue held today (26 June) at the Prime Minister’s Office emphasized that Bangladesh's LDC Graduation strategy and its associated action plan should be highly action-oriented to ensure smooth and sustainable graduation.
M. Tofazzel Hossain Miah, Principal Secretary to the Prime Minister and Chair of the National Committee on LDC Graduation, chaired the high-level dialogue, according to a media release.
Secretaries of concerned government ministries and divisions, along with high-level representatives from various business chambers, participated in the dialogue.
Bangladesh met all the criteria for graduation from LDC status in the consecutive 2018 and 2021 triennial reviews of the United Nations Committee for Development Policy (CDP). Following a five-year preparatory period, Bangladesh is set to graduate from LDC status in November 2026.
The United Nations recommends that graduating LDCs prepare a national Smooth Transition Strategy (STS) during the preparatory period, in collaboration with development and trading partners and with targeted assistance from the UN system.
Accordingly, Bangladesh has initiated the formulation of its STS in collaboration with UN DESA. The high-level dialogue was organized to share the draft STS and its associated action plan with relevant stakeholders, seeking feedback and recommendations.
Addressing the gathering, M. Tofazzel Hossain Miah highlighted that the Smooth Transition Strategy could offer effective recommendations to turn the challenges of Bangladesh's upcoming LDC graduation into opportunities.
Participants noted that the draft STS is comprehensive, qualitative, and informative. However, they suggested that the action plan accompanying the STS should be specific and action-oriented.
They also emphasized the need for the draft STS to provide specific recommendations on structural transformation, productivity enhancement, increased domestic resource mobilization, and tariff rationalization.
Secretary of the Economic Relations Division Md. Shahriar Kader Siddiky, Executive Chairman of Bangladesh Investment Development Authority Lokman Hossain Miah, Secretary of the Ministry of Commerce Md. Selim Uddin, Senior Secretary of the Ministry of Industries Zakia Sultana, former ERD Secretary and the current Alternate Executive Director of the World Bank Group Sharifa Khan, former Commerce Secretary Tapan Kanti Ghosh, Member of the National Board of Revenue Md. Masud Sadiq, President of Metropolitan Chamber of Commerce and Industry Kamran T Rahman, President of Dhaka Chamber of Commerce and Industries Ashraf Ahmed, President of Bangladesh Association of Pharmaceutical Industries Abdul Muktadir, among others, spoke during the occasion.
The national consultant on Bangladesh’s STS Dr. M. A. Razzaque delivered a presentation highlighting the various aspects of the STS that is being formulated. Meanwhile, the international consultant on Bangladesh’s STS Cuong Minh Nguyen delivered a presentation on the STS Action Plan.
