STAFF CORRESPONDENT

The United Nations Committee for Development Policy (UN CDP) has recommended that Bangladesh’s Least Developed Country (LDC) graduation be postponed until November 24, 2029, putting the country in good standing to receive preferential trade benefits for three more years.

“The extension of the preparatory period should not be viewed as an opportunity to delay reforms -- rather, it should serve as a catalyst for accelerating them,” the CDP said in its critical assessment report.

Bangladesh has exceeded the graduation thresholds by a significant margin under all three LDC graduation criteria and faces a very low risk of falling below these thresholds in the near to medium term.

But the recent crisis in the Middle East, uncertainties in global energy and supply chains, changes in the international trading environment, and global challenges could affect the country’s graduation preparedness and transition process, the CDP said.

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