Dr Anisuzzaman Chowdhury, special assistant to the chief adviser, has said Bangladesh is fully prepared to graduate from the Least Developed Country (LDC) status.
While the graduation is scheduled for 2026, it would have occurred in 2024 if not for the Covid-19 pandemic, he said at a press briefing held at the Foreign Service Academy on Baily Road in the capital on Tuesday.
“Even countries weaker than us have managed to graduate. Despite various challenges, there is no scope for retreating from this transition.”
Calling any suggestion to postpone the LDC graduation “absurd,” Anisuzzaman emphasized that the duty-free and quota-free benefits Bangladesh currently enjoys will not abruptly end in 2026.
He continued: “Many countries have already informed us that it is a complicated market for us. The European Union has assured benefits until 2029. Australia has said existing privileges will continue regardless of graduation, and the UK echoed the same. Recently, when the chief adviser visited China, they too confirmed continued support.
"So the concerns of our business community have already been addressed. It is a matter of proper understanding.”
Addressing the issue of economic independence, he said: “We must stand on our own feet. We have the strength. We are on track to becoming a middle-income country. Why should our tax-to-GDP ratio remain so low? Vietnam's is 19%, Bhutan's is between 11–13%, and Cambodia's is 15%. Yet we are stuck at 6–7%—this is unacceptable. If we can raise our tax-GDP ratio, we will not need foreign aid.”
He acknowledged existing weaknesses in institutional capacity, particularly the absence of a dedicated trade organization. “We are creating a separate cell focused solely on trade, and we aim to establish a strong trade negotiation body,” he said.
Responding to a question about foreign aid, Anisuzzaman said: “Foreign aid is not a major issue. It is a colonial dependency. The proportion of aid to our GDP has decreased significantly. Even if we do not receive aid, we will manage. Dependency only breeds complacency. Since 2010, under the previous government, aid dependence has increased, and as a result, our tax-to-GDP ratio dropped from 10% to 6%.
"We are now working to strengthen internal resource mobilization. The NBR is undergoing reform, and police reforms have also been initiated.”
Regarding Bangladesh's readiness for LDC graduation, he said: “We reviewed our strengths and identified areas needing improvement. We are quite satisfied with our progress. Our ‘plane’ is ready for takeoff—there’s no risk of a crash. Graduation in 2026 is achievable, but we must take necessary precautions in advance.”
Anisuzzaman also highlighted future priorities. “We discussed potential pressure on employment and the private sector. We have outlined the necessary policies and identified possible risks. We will prepare accordingly, God willing. A high-level committee will monitor everything continuously.
"We are including not only government officials, but also private sector representatives and international experts. We will ensure all stakeholders are part of this journey,” he added.
Meanwhile, Shafiqul Alam, press secretary to the chief adviser, added that during the meeting, the chief adviser said: “We have made our decision. We must move forward at full speed.”
The chief adviser directed officials to ensure no sector is adversely affected and emphasized maximizing the benefits of the transition.
“Bangladesh should be developed as a manufacturing hub in the region, and steps must be taken to enhance our capacity post-transition.”
Regarding the upcoming election, Shafiqul mentioned that political parties are currently engaged in discussions on reforms with the National Consensus Commission.
"The final decision on the extent of the reforms will be made after these talks. Based on that decision, the next national election will be held either in December or June," he added.
