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LDC graduation: Bashir emphasises implementation of trade facilitation roadmap

Source : Daily Observer, 04 February 2025

LDC graduation: Bashir emphasises implementation of trade facilitation roadmap
Commerce Adviser Sk Bashir Uddin has emphasised the urgent need to implement the Trade Facilitation Roadmap to address the challenges associated with Bangladesh's graduation from the Least Developed Country (LDC) status.
 
 
 
Speaking at the 8th meeting of the National Trade Facilitation Committee (NTFC) at the BIAM Foundation Multipurpose Hall in Dhaka on Tuesday, the adviser highlighted the critical role of capacity-building and underscored the necessity of enhancing efficiency and fostering a competitive mindset to navigate the post-LDC transition successfully.
 
 


The Ministry of Commerce organised the meeting with Sk Bashir Uddin presiding. Lutfey Siddiqi, the Chief Adviser's Special Envoy for International Affairs, attended the meeting as a distinguished guest. "We are set to graduate from LDC status in November 2026. This transition will introduce new regulations affecting our exports. To mitigate the economic impact, enhancing our capacity is crucial. Competitiveness through skill development is our only viable option," the Commerce Adviser told the meeting.

 


He said Bangladesh has a timeframe until 2030 to make necessary adjustments. "I believe this is a considerable period. If we graduate in 2026, our working groups must collaborate effectively to establish clear objectives." Lutfey Siddiqi echoed the same sentiments, stressing the need for a structured timeline for implementation. "We must strengthen our capabilities while simultaneously streamlining trade operations. Coordination and cooperation are key to achieving our goals," he said.

 



Senior officials, including the Senior Secretary of the Ministry of Shipping, the Secretary of the Bridge Division, the Secretary of the Legislative and Parliamentary Affairs Division, the Secretary of the Posts and Telecommunications Division, and the Acting Secretary of the Ministry of Commerce, participated in the meeting.

 


The Chairman of the Bangladesh Trade and Tariff Commission, the Administrator of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the Chairman of the Land Port Authority, the Chairman of the Chattogram Port Authority, and the Vice Chairman of the Export Promotion Bureau (EPB) were also present.

 



The Trade Facilitation Agreement (TFA) aims to liberalise trade by reviewing international trade regulations and procedures, thereby accelerating the movement of imports and exports. Under the TFA framework, initiatives have been categorised into three groups: A, B and C.

 

Bangladesh submitted a notification regarding the implementation of 21 Category A initiatives to the World Trade Organisation (WTO) on 20 February 2018.