Commerce Adviser Sk Bashir Uddin has emphasized the urgent need to implement the Trade Facilitation Roadmap to address the challenges associated with Bangladesh's graduation from Least Developed Country (LDC) status.
Speaking at the 8th meeting of the National Trade Facilitation Committee (NTFC) at the BIAM Foundation Multipurpose Hall in Dhaka on Tuesday, the adviser highlighted the critical role of capacity-building and underscored the necessity of enhancing efficiency and fostering a competitive mindset to navigate the post-LDC transition successfully.
The Ministry of Commerce organized the meeting, with Sk Bashir Uddin presiding.
Lutfey Siddiqi, the chief adviser’s special envoy for international affairs, attended the meeting as a distinguished guest.
The commerce adviser told the meeting: “We are set to graduate from LDC status in November 2026. This transition will introduce new regulations affecting our exports. To mitigate the economic impact, enhancing our capacity is crucial. Competitiveness through skill development is our only viable option.”
He said Bangladesh has a timeframe until 2030 to make necessary adjustments. “I believe this is a considerable period. If we graduate in 2026, our working groups must collaborate effectively to establish clear objectives.”
Lutfey Siddiqi echoed the same sentiments, stressing the need for a structured timeline for implementation.
He said: “We must strengthen our capabilities while simultaneously streamlining trade operations. Coordination and cooperation are key to achieving our goals.”
The chairman of the Bangladesh Trade and Tariff Commission, the administrator of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the chairman of the Land Port Authority, the chairman of the Chittagong Port Authority, and the vice chairman of the Export Promotion Bureau (EPB) were also present.
The Trade Facilitation Agreement (TFA) aims to liberalize trade by reviewing international trade regulations and procedures, thereby accelerating the movement of imports and exports.
Under the TFA framework, initiatives have been categorized into three groups: A, B, and C.
Bangladesh submitted a notification regarding the implementation of 21 Category A initiatives to the World Trade Organization (WTO) on February 20, 2018.
The implementation of 18 Category B initiatives has already been completed, with notifications sent to the WTO at different intervals.
For Category C, the deadline for implementation is June 30, 2030. Of the 15 initiatives under this category, five have already been implemented and notified to the WTO, while the remaining 10 are in progress.