Foreign Affairs Adviser Md Touhid Hossain said on Monday that the government will not apply for a delay in Bangladesh's graduation from the Least Developed Countries (LDC) status, citing the fulfillment of many of the required targets, reports UNB.
“The transition deadline should not be delayed,” he said at a programme titled 'Importance and Potential of Bangladesh Cotton Cultivation to Save Foreign Exchange', held at the Economic Reporters Forum (ERF) auditorium in the capital.
The adviser hoped that businessmen would start preparations once an additional three years were given after graduation.
But, Hossain said, both the previous government and businessmen had failed to make adequate preparations for the transition.
Hossain mentioned that the government plans to take effective measures within two months to declare cotton an agricultural product and boost its production in the country.
He urged the National Board of Revenue (NBR) to urgently withdraw the tax imposed on domestic cotton.
About the land fertility issue, he noted that tobacco cultivation is depleting soil health, and suggested that cultivating cotton on tobacco lands could benefit farmers while contributing to the country's economy.
The adviser said that the government, led by Dr. Yunus, would not hesitate to make decisions in the national interest, even if they go against certain groups.
He assured that policy support would be provided to promote cotton cultivation.
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Touhid Hossain also highlighted that while the United States imposes tariffs on cotton exports, Bangladesh remains exempt.
He suggested that measures could be taken to import cotton from the US.
MB
