The much-awaited least developed countries (LDC) graduation approaching fast, Bangladesh has recently sought extension of trade facilities meant for the LDCs for six more years instead of the current three.

This is as per reports, which added a delegation from Bangladesh placed the demand at various forums and meetings with the high-ranking authorities of the EU at its headquarters in Brussels, Belgium over the last two days and went on to add Bangladesh has done so to ensure the country’s smooth graduation to a developing nation.

Further, Bangladesh also reportedly demanded that EU withdraw a rule in the new Generalised Scheme of Preferences (GSP), which stipulates that if the value of a product imported from a country eligible for duty-free benefits under the Everything But Arms initiative crosses the 6 per cent of the bloc’s total imports, then the zero-duty facility will not be applicable notwithstanding even if GSP status is granted.