Commerce Minister Khandakar Abdul Muktadir has warned that Bangladesh could face significant export challenges after graduating from the Least Developed Country (LDC) category, with exports worth an estimated $17.5 billion potentially affected by the loss of preferential trade privileges in key international markets.
Speaking in Parliament on Monday, the minister said Bangladesh’s transition to developing-country status will bring new opportunities, but it will also end several special trade benefits currently available under preferential schemes offered by developed nations.
Responding to a question from Chattogram-11 lawmaker Jasim Uddin Ahmed, Muktadir said the withdrawal of these facilities could have a substantial impact on the country’s export sector if adequate preparations are not taken in advance.
He noted that the government has already begun implementing a range of measures to minimise the impact of the transition and ensure continued export growth. These efforts include strengthening trade relations, diversifying export destinations and securing new market access arrangements through bilateral and regional agreements.
According to the minister, Bangladesh has already finalised an Economic Partnership Agreement (EPA) with Japan, while negotiations for a Comprehensive Economic Partnership Agreement (CEPA) with South Korea are currently underway. The government is also pursuing trade agreements with several major partners, including the European Union, China, Singapore, Indonesia, the United Arab Emirates and member countries of the Regional Comprehensive Economic Partnership (RCEP).
Muktadir said these initiatives are aimed at preserving Bangladesh’s competitiveness in global markets once LDC-specific benefits expire. He added that the government is simultaneously working to expand export opportunities, attract foreign investment, create jobs and strengthen long-term economic partnerships.
The minister expressed confidence that with timely policy measures and stronger trade cooperation, Bangladesh would be able to navigate the challenges of LDC graduation while sustaining its export-led growth trajectory.
