EU, G77 express support for Bangladesh’s smooth, sustainable LDC graduation

The European Union (EU) and the Group of 77 and China (G77) have reaffirmed their support for Bangladesh’s efforts to ensure a smooth, sustainable and irreversible graduation from the Least Developed Country (LDC) category. Photo: Courtesy

The European Union (EU) and the Group of 77 and China (G77) have reaffirmed their support for Bangladesh’s efforts to ensure a smooth, sustainable and irreversible graduation from the Least Developed Country (LDC) category.

The assurances came during separate meetings at United Nations Headquarters between Minister of Commerce Khandakar Abdul Muktadir and Head of the European Union Delegation to the United Nations Ambassador Stavros Lambrinidis, and Chair of the Group of 77 and China and Permanent Representative of Uruguay to the United Nations Ambassador Laura Dupuy Lasserre.

The minister was accompanied by the State Minister for Planning Zonayed Saki, Secretary of the Economic Relations Division Md Shahriar Kader Siddiky, Permanent Representative of Bangladesh to the United Nations Ambassador Salahuddin Noman Chowdhury, President of the Footwear, Leathergoods and Accessories Exporters’ Association of Bangladesh Syed Nasim Manzur, and President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Mahmud Hasan Khan.

The commerce minister explained the rationale behind Bangladesh’s request for a three-year extension of the LDC graduation preparatory period, citing the country’s ongoing economic and political transition, global economic uncertainties, energy challenges and the need to consolidate wide-ranging structural reforms.

He reaffirmed the government’s commitment to strengthening governance, improving the financial sector, expanding infrastructure, enhancing domestic resource mobilization and creating a more investment-friendly business environment.

He underscored that additional time would help consolidate reforms, address infrastructure constraints, strengthen industrial competitiveness and ensure that Bangladesh’s graduation remains smooth, sustainable and irreversible.

Ambassador Lambrinidis commended the government’s commitment to good governance and sustainable development, welcomed the launch of discussions on a Bangladesh-EU Free Trade Agreement (FTA) and reaffirmed the EU’s continued support for Bangladesh’s graduation.

He also expressed support for stronger public-private cooperation to facilitate the transition.

Ambassador Lasserre acknowledged the strength of Bangladesh’s case for an extension, welcomed the government’s pragmatic reform agenda and reaffirmed the G77’s support.

She also proposed a dedicated briefing for G77 member states on Bangladesh’s graduation strategy, a proposal welcomed by the Bangladesh delegation.

Following the meeting, Secretary of the Economic Relations Division described the discussions with the European Union delegation as highly productive.

He said the European Union had reaffirmed its continued support for Bangladesh’s smooth, sustainable and irreversible graduation from the Least Developed Country (LDC) category.