IPPS for deferring LDC graduation by 10-12 years

The Intellectual Property and Policy Studies (IPPS), a non-profit organisation, yesterday urged the government to defer the country's graduation from least developed country (LDC) status by at least 10 to 12 years.

Bangladesh has yet to properly evaluate the post-LDC graduation impact on various sectors, including education, research, the environment, medicine, and intellectual property, said the platform.

The country has also failed to take the necessary steps for bilateral, regional, and global agreements and contracts, it added.

The organisation made this call at a seminar on the challenges of Bangladesh's path to developing country status, held at the Press Institute of Bangladesh (PIB) in Dhaka.

"If Bangladesh fails to properly understand, implement, and apply the prerequisites for graduating from an LDC to a developing country, it may lead to disaster in the name of development," said Taslima Jahan, secretary of the IPPS.

As a developing country, Bangladesh will be obligated to comply with the terms of the World Trade Organization (WTO) and the Trade-Related Aspects of Intellectual Property Rights (TRIPS) Agreement. Additionally, it will no longer receive certain benefits or waivers that it currently enjoys as an LDC, she added.

"We have already sent applications to all relevant ministries related to LDC graduation, requesting a deferment of at least 10 to 12 years," said Mohammad Shafiqur Rahman, president of the IPPS.

"We hope the interim government will consider it," he added.

Bangladesh is scheduled to graduate from LDC status to a developing nation in November 2026, but businesses are demanding that the government take the initiative to delay the graduation.

Last month, the Bangladesh Chamber of Industries (BCI) also urged the government to defer LDC graduation by at least three years, stating, "If the graduation is not deferred, the economy will face a massive collapse."

They also blamed the ousted Awami League government for pursuing LDC graduation based on inflated economic figures to portray it as an achievement.

In December, Education and Planning Adviser Wahiduddin Mahmud said Bangladesh has no option to defer its graduation from the LDC category.

Earlier, members of a committee that prepared a white paper on the state of Bangladesh's economy also advised the government not to defer LDC graduation.