Industry And Cluster | News & Insights

Lack of LDC benefits may hit Bangla trade growth: experts.

Published: May 16, 2019

Though Bangladesh is on its way to graduate from the Least Developed Countries (LDC) group in 2024, it will continue to enjoy LDC benefits till 2027. But losing out on those benefits beyond 2027 can affect its trade growth, felt experts at a recent forum on ‘Current Debates at the WTO and the LDC Concerns’ organised by the Centre for Policy Dialogue (CPD) in Dhaka. As the country will graduate at a time when the global trade scenario and the World Trade Organisation (WTO) are not in the best of situations, Bangladesh needs to have a clear understanding of the challenges it will face after graduating and should proceed with a concrete plan to ensure a smooth transition and a sustainable graduation from the LDC list, the experts said. Bangladesh Garments Manufacturers and Exporters Association ()BGMEA) president RubanaHuq said WTO should consider providing special trade related facilities to Bangladesh’s readymade garments sector after the country graduates from the LDC status, according to a CPD press release.

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