Even as negotiation with the World Trade Organisation (WTO) is underway, Bangladesh is hopeful of enjoying duty-free export benefit for a more extended period after graduating from the league of the least-developed countries (LDCs), which otherwise is expected to have an adverse impact on the country’s exports, especially apparels shipments.
Meanwhile, speaking to the media, Commerce Secretary Tapan Kanti Ghosh recently underlined, “…We have sought an extension of the LDC-linked facilities for 12 years after the formal graduation…,” while also underlining that WTO members might not grant the extension for 12 years, but expressed hopes of being provided a reasonable time to graduating countries (LDCs) as all these nations, and the influential members of the global body agreed to extend trade facilities for low-income nations after their graduation.
It may be mentioned here that Bangladesh was supposed to become a developing nation in 2024, but following a request from Dhaka, the UNCDP or United Nations Committee for Development Policy, which assesses the transition procedures, has pushed back the deadline to 2026.
