STAR BUSINESS REPORT

Three business leaders yesterday once again urged Chief Adviser (CA) Professor Muhammad Yunus to defer Bangladesh’s graduation from the group of least developed countries (LDCs) by at least three years from November 2026 to allow better preparation.

They made the demand at a meeting on the progress of graduation preparedness and the implementation of a “Smooth Transition Strategy” (STS) held at the CA’s office in Dhaka, where most of his cabinet colleagues were present.

Business representatives have repeatedly called for a deferment of the LDC graduation over the past few months, arguing that they are not yet ready for a smooth transition.

“We have again requested the government to defer the graduation, as we need more time to prepare,” said Mahmud Hasan Khan, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

“There are some issues related to commerce and finance that need to be improved for a smooth graduation and for the implementation of the STS, which is the roadmap for LDC graduation,” he said.

Talking to The Daily Star over the phone, he pointed out that two critical factors — the ease of doing business and the cost of doing business — require significant improvement, which would take at least three years of preparation.