Commerce Minister seeks more time before Bangladesh leaves LDC status

Commerce, Industries, and Textiles and Jute Minister Khandaker Abdul Muktadir on Wednesday announced that the government has formally begun efforts to secure a three-year extension of Bangladesh’s graduation from the Least Developed Country (LDC) category, citing the need for additional preparation time to safeguard trade and industrial interests.

Speaking to reporters at the Secretariat on his first working day in office, the minister said the initiative had been launched immediately upon assuming charge.

“We want to defer the LDC graduation timeline by three years. We have started working on this from today. Whatever steps are necessary, we will take them,” he said.

Bangladesh is currently set to graduate from LDC status, a move that would phase out certain trade preferences and international support measures. The minister indicated that careful planning and coordinated diplomacy would be required to secure the extension.

He said the Ministry of Commerce would lead the effort, while the Economic Relations Division (ERD) would act as the coordinating authority to engage development partners and relevant international bodies.

“We will work closely with the ERD to complete the process quickly,” he added.

Khandaker Abdul Muktadir has been given charge of three economically significant ministries—Commerce, Industries, and Textiles and Jute. This is his first term as a Member of Parliament and his first appointment to the cabinet.

State Minister Md Shariful Alam, who will assist across the three ministries, and Commerce Secretary Mahbubur Rahman were also present during the briefing, underscoring the importance the government is placing on the issue from day one.