Govt. focuses on reforms to ease LDC graduation

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Commerce Minister Khandakar Abdul Muktadir said the government is implementing structural reforms to strengthen Bangladesh's economy and ensure a smooth transition from the Least Developed Country (LDC) category.

Speaking at a seminar in Dhaka, he said the three-year deferment of LDC graduation would allow the government to address structural weaknesses and prepare the economy for the post-LDC era.

The reform agenda includes improving energy security, reforming the banking sector, enhancing the ease of doing business and strengthening institutional efficiency. Muktadir also announced the introduction of a genuine One-Stop Service (OSS) and a fully digital five-year trade licence system.

He said the government is committed to promoting transparency, accountability and a better investment climate to attract local and foreign investment.

Presenting the keynote paper, Professor Dr Mustafizur Rahman highlighted challenges after LDC graduation, including greater global competition and the loss of preferential tariff benefits, while stressing the need to boost productivity, diversify exports and accelerate reforms.

Other speakers emphasized good governance, infrastructure development, policy consistency, energy security and increased value addition in exports as key factors for Bangladesh's successful post-LDC transition.