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Speed up trade facilitation roadmap for LDC graduation: Bashir

Published : Wednesday, 5 February, 2025 at 12:00 AM  Count : 317
Commerce Adviser Sk Bashir Uddin has called for urgently implementing the Trade Facilitation Roadmap to address the challenges associated with Bangladesh's graduation move from Least Developed Country (LDC) status.

Speaking at the 8th National Trade Facilitation Committee (NTFC) meeting at  BIAM Foundation Multipurpose Hall in Dhaka on Tuesday, the commerce adviser highlighted the critical role of capacity building and enhancing efficiency to foster a competitive mindset to navigate successfully through the post-LDC transition. 

The Ministry of Commerce organised the meeting with Sk Bashir Uddin in the chair. 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, we need to enhance our capacity and competitiveness through skill development. This is our only viable option," the Commerce Adviser told the meeting.

He said Bangladesh has a timeframe until 2030 to make necessary adjustments with internal rules and regulations. "I believe this is a considerable period. If we graduate in 2026, our working groups must collaborate effectively to establish clear objectives," he said.

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

The Chairman of Bangladesh Trade and Tariff Commission, Administrator of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), Chairman of Land Port Authority, Chairman of 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.



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