LDC-specific international support measures (ISMs) may face significant contraction in the future due to global economic shifts, warned Dr. Anisuzzaman Chowdhury, Special Assistant at the Ministry of Finance.
Speaking as chief guest at a seminar titled “LDC Graduation and Structural Transformation” held at the NEC-2 Conference Room in Dhaka, Dr. Chowdhury urged Bangladesh to reduce its reliance on LDC-specific facilities. The event was organized by the Economic Relations Division’s (ERD) Support to Sustainable Graduation Project (SSGP) and chaired by ERD Secretary Md. Shahriar Kader Siddiky.
Dr. Chowdhury cautioned that whether Bangladesh remains an LDC or not, sustaining ISMs will be difficult in the coming years due to a contracting global economy. He called for urgent preparations to maintain competitiveness beyond LDC benefits, while urging the private sector to raise workers’ wages, provide training for higher productivity, and explore eco-friendly energy sources to ensure global compliance in exports.
In his remarks, ERD Secretary Siddiky stressed the importance of international cooperation — from governments, development institutions, and the private sector — in providing financial support, technical assistance, and access to global markets. He noted that Bangladesh’s Smooth Transition Strategy (STS) already offers a roadmap for coordinated action, which now requires execution.
Dr. Zulfan Tadjoeddin, Associate Professor at Western Sydney University, delivered the keynote, highlighting geopolitical and democratic deficits as barriers to structural transformation in South and Southeast Asian LDCs. He emphasized the need for reforms, citizen empowerment, and effective governance to boost productivity.
Panelists included CPD Distinguished Fellow Professor Mustafizur Rahman, BIDS Research Director Dr. Kazi Iqbal, and senior trade leaders such as BGMEA President Mahmud Hasan Khan, LFMEAB President Syed Nasim Manzur, and BTTC Chairman Dr. Moinul Khan. Private sector representatives urged a three-year deferral of Bangladesh’s scheduled LDC graduation in 2026, citing the need for energy security and infrastructural support to tackle post-graduation challenges.
Bangladesh is set to graduate from LDC status on November 24, 2026. Experts noted that sustainable graduation hinges on structural transformation, including resource shifts from low- to high-productivity sectors, technological upgrading, and economic diversification.
Senior officials, trade association leaders, and think-tank representatives attended the seminar.