Bangladesh will not seek to postpone its inevitable graduation from Least Developed Country (LDC) status, slated for November 2026, says Dr Mashiur Rahman, economic adviser to the prime minister. He emphasized that there is no room for regression; Bangladesh must continue its forward momentum.
“Graduation from LDCs always brings some new views for any economy and a complete preparation is required to adapt to the scenario that develops following LDC graduation. It is true that some of the preparation time has already passed,” he added.
To make up for the lost time, Bangladesh must prepare more vigorously by working harder to get ready for the post-graduate phase, which is a new dimension for the country, he added.
He was speaking as the chief guest at a knowledge-sharing session on “13th Ministerial Conference (MC13) of the WTO: What Stakes for Bangladesh?”, organized by the Research and Policy Integration for Development (RAPID) in the capital on Thursday.
Despite facing various challenges, Bangladesh is committed to not delaying its graduation from the Least Developed Country (LDC) category, a milestone set to be reached in November 2026. A senior policy maker of the country reaffirmed this stance during a discussion held in Dhaka on Thursday, emphasizing that seeking an extension would signify defeat. Instead, the country aims to move forward, demonstrating its commitment to its word.
The discussion was moderated by Dr M A Razzaque, chairman of Rapid, with welcoming remarks delivered by Dr M Abu Eusuf, a professor at Dhaka University and executive director of Rapid.
The MC13 is scheduled to take place from February 26-29 in Abu Dhabi, United Arab Emirates (UAE).
Dr Mostafa Abid Khan, a former member of the Bangladesh Trade and Tariff Commission (BTTC), delivered the keynote presentation. He highlighted the importance of the ministerial meeting amidst declining global trade growth and increasing geopolitical tensions. He also outlined key negotiation areas such as the e-commerce moratorium, fisheries subsidies, agriculture, food security, WTO reform, and post-graduation support measures for LDCs, explaining their potential impact on Bangladesh.
The keynote speaker and experts also noted that while the WTO General Council has adopted a decision on extended transition periods for duty-free market access and the trips waiver, these are not mandatory, and Bangladesh must work hard to obtain binding commitments so that graduating LDCs can continue to benefit from essential trade concessions as they adjust to their new economic status.
They also suggested that Bangladesh should play a proactive role using the MC13 platform and making its contribution to revive multilateralism.
Prof Mustafizur Rahman, distinguished fellow of the CPD, said that Bangladesh should keep in mind the interest of the developing country during the negotiation in the WTO.
He also suggested taking preparation as the country is likely to graduate in November 2026.
“After the graduation, we would not get trips weaver and may pay for the patent license to produce medicine. Bangladesh should go for reverse engineering which could allow the country to use the formula without paying any charge,” he added.
Regarding fisheries subsidies, he mentioned that Bangladesh would encounter challenges post-graduation, particularly due to its classification of hilsa as a marine fish despite being extracted from river bodies. He emphasized the need to revise the calculation methodology for marine fish catch, especially considering Bangladesh's share exceeding the threshold of 0.8%.
Concerning the MC13, he highlighted Bangladesh's support for India's proposal to allow subsidies within the exclusive economic zone. He stressed the importance of LDC ministers reminding their government heads of the sustainable graduation strategy adopted during the Doha Summit in March 2023 during negotiations at the MC.
Former Senior Secretary and Project Adviser to SSGP Sharifa Khan said that after the LDC graduation Bangladesh would enjoy duty free market access up to 2029.
She also said that for availing duty-free access, Bangladesh has signed all 32 conventions but there are some problems in implementation.
Bangladesh should go for reverse engineering for using patent licenses without any fee in producing pharmaceuticals even after LDC graduation.
Shawkat Hossain Masum, head of online of Prothom Alo, and Asjadul Kibira, planning editor of The Financial Express, were designated discussants at the session.
