Business leaders said companies need to strengthen productivity, workforce skills, technology adoption, access to finance and trade capacity to remain competitive in overseas markets. They also sought action plans built on reliable data, effective implementation and regular monitoring, with deeper private-sector participation in government reform work.
Bangladesh business leaders want sector-wise LDC graduation plans backed by reliable data, implementation tracking and stronger private-sector input.
They warned exporters may face loss of EU GSP and EBA duty-free access after graduation.
Firms were urged to improve productivity, skills, technology, finance access, trade capacity and IP readiness.
The recommendations were made at a discussion organised by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) on private-sector participation in LDC-related reforms and business capacity building, according to local media reports.
FBCCI administrator Md Fazlul Hoque chaired the meeting, while FBCCI secretary general Md Alamgir presented a report on the risks and opportunities Bangladesh may face after leaving the LDC group.
The FBCCI report warned that Bangladesh may lose preferential market access in key export destinations, including duty-free benefits under the European Union’s Generalised Scheme of Preferences (GSP) and Everything But Arms (EBA) scheme. It also said pharmaceutical and other sectors could face tighter intellectual property requirements after graduation.
Rajib H Chowdhury, senior vice-president of the Dhaka Chamber of Commerce and Industry, said Bangladesh needs stronger capability to negotiate trade agreements and respond to new market-access issues.
Bangladesh is scheduled to graduate from the United Nations’ LDC category on November 24, 2026.
Although the country meets all three graduation criteria, the government has sought a three-year extension until November 2029 to address economic challenges and complete reforms.
The UN Committee for Development Policy has supported a shorter extension, while the UN Economic and Social Council has sent Bangladesh’s request to the UN General Assembly for a final decision before the graduation deadline.
Fibre2Fashion News Desk (CG)
