US, India and others oppose delay of Bangladesh's graduation from LDC status: Commerce Secretary
Commerce Secretary Mahbubur Rahman has said that the government is trying to delay Bangladesh's graduation from the Least Developed Countries (LDC) list by three years.
However, he noted that there is little reason to be optimistic, as friendly countries, including India and the United States, are opposing the move.
He made these remarks while speaking at a workshop on US reciprocal tariffs and LDC graduation, organised by the private research organisation RAPID. The workshop was held today, Tuesday, at the CIRDAP auditorium in the capital.
Bangladesh is set to graduate from Least Developed Country (LDC) status on 24 November 2026. However, local businesses are calling for a delay by 5 to 6 more years, citing a lack of preparedness.
Speaking at today’s event, Commerce Secretary Mahbubur Rahman said, “The postponement of LDC graduation depends on approval from the United Nations General Assembly. But our friendly countries are opposing it—such as Japan, Turkey, India, and the United States. So how can we expect the proposal for postponement to be approved? That’s why we are trying to seek technical assistance from them.”
He further added that the government is working to delay the graduation by three years and is consulting with experts on the matter. “We will make every possible effort. The main goal is to extend trade benefits for a few more years. Still, the chances of success are slim—but it's also not a situation to be completely hopeless about,” he said.
At the workshop, RAPID Chairman MA Razzaque presented a research report. He stated that due to receprocal tariffs, Bangladesh’s exports to the US market could decline by 14 per cent over the next year.
Similarly, exports from competing countries to the same market are also expected to drop — China by 58 per cent, India by 48 per cent, Vietnam by 28 per cent, and Indonesia by 27 per cent.
Other speakers at the event included RAPID Executive Director M Abu Yusuf and Economic Reporters’ Forum (ERF) President Daulat Akhtar.