Bangladesh makes strong case for LDC graduation
Bangladesh is set to meet the LDC graduation criteria for the consecutive second time and will be recommended for graduation during the upcoming triennial review of the Committee for Development Policy (CDP) of the United Nations next month.
The country has called on the international community for the continuation of support measures for an extended period to make the upcoming graduation smooth and sustainable, according to a statement.
Bangladesh has made the call during a session of the ongoing expert group meeting of the CDP yesterday as part of the preparation of the upcoming triennial review meeting.
Bangladesh delegation for the online session was led by the Principal Coordinator (SDG Affairs) of the Prime Minister's Office, Zuena Aziz.
Secretary of the Economic Relations Division (ERD), Fatima Yasmin, delivered a presentation during the session, highlighting the socioeconomic progress achieved by Bangladesh in recent times as well as the latest position of the country regarding graduation.
It was projected during the meeting that since Bangladesh had met all the criteria for LDC graduation for consecutive second time, the country would be recommended for graduation in the upcoming triennial review.
At the same time, the Bangladesh delegation called for providing extended preparatory period of five years spanning from 2021 to 2026.
Bangladesh met all the criteria for LDC graduation for the first time during the last CDP triennial review held in March 2018, according to the statement.
As per the UN provisions, a country must be found eligible in two successive triennial reviews to be recommended by CDP for graduation.
According to the rules of CDP, a country can enjoy three to five years' preparatory period after being recommended for graduation.
If Bangladesh gets five-year preparatory period for graduation after being recommended by CDP during the upcoming triennial review, the country will formally graduate from the LDC status in 2026.
During this preparatory period, Bangladesh would be entitled to enjoy all the international support measures reserved for LDCs. In addition, as per the existing provisions, the country would also remain eligible to enjoy duty-free and quota-free access in the European Union market for three more years until 2029.