LDC Graduation

High-level committee starts working on possible challenges

United News of Bangladesh . Dhaka | Published: 23:02, May 05,2021


A high-level committee has started working on a strategy and plan to overcome the possible challenges of Bangladesh’s graduation from the status of a least developed country.

Prime minister Sheikh Hasina on April 26 formed the 22member committee, headed by principal secretary Ahmad Kaikaus, to prepare, plan, implement and monitor the tackling of possible challenges of Bangladesh’s LDC graduation.

The committee sat in its first meeting virtually on Wednesday.

Ahmad Kaikaus presided over the meeting, joining from the Prime Minister’s Office.

The meeting discussed the possible negative impacts on the country’s economy, socioeconomic and other areas, especially in export-oriented sectors like RMG and pharmaceuticals, during the post-graduation period.

Economic Relations Divisions secretary Fatima Yasmin made a power-pint presentation in the meeting.

The committee decided to sort out the possible challenges in different sectors within a month.

To this end, a six-member sub-committee was formed under senior commerce secretary Md Jafar Uddin.

‘The sub-committee was asked to identify the sector-wise challenges and prepare an action plan within one month,’ PMO secretary Md Tofazzel Hossain Miah told reporters after the meeting.

Noting that Bangladesh would lose different international supports during the post-graduation period, he said that dutyfree and quota-free access and concessional loan facilities from bilateral or multilateral sources would be narrowed for Bangladesh following the graduation. Besides, the issue of intellectual property rights would shrink any time after 2033, he said.

In the meeting, the committee also took the decision to arrange a large-scale seminar with experts from different sectors and academicians as early as possible to receive their views and opinions over the post-LDC challenges.

The committee will sit in a meeting every month.

The committee members are principal coordinator (SDGs affairs) at the PMO (Zuena Aziz), senior secretary of ICT division, Finance Division senior secretary, National Board of Revenue chairman, Planning Commission member (GED), senior commerce secretary, PMO secretary, ERD secretary, foreign secretary, industries secretary, agriculture secretary, environment secretary, BIDA executive chairman, Bangladesh Trade and Tariff Commission chairman, liberation war affairs secretary, Planning Commission member Sharifa Khan, FBCCI president, BGMEA president, DCCI president, Bangladesh Association of Pharmaceutical Industries president and director general (executive cell and PEPZ) at PMO.

Bangladesh started its LDC graduation journey at the initiative of prime minister Sheikh Hasina.

She participated in the 4th LDC related summit of the United Nations held on May 9-13, 2011, where ‘Istanbul Plan of Action’ was adopted.

Since then, Hasina took the action plan for the LDC graduation of Bangladesh, and she has been giving directives to this end constantly, said the PMO secretary.

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