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Henry Kissinger, the former US Secretary of State, once described Bangladesh as a bottomless basket. This bottomless basket has become a rapidly expanding economy, exceeding many of its giant neighbours, including India. Over the decade, the whole world has witnessed unprecedented progress
Bold, coordinated support measures required to ensure sustainable graduation: Dhaka
UNB
27th May, 2021 11:08:21
Permanent Representative of Bangladesh to the UN Ambassador Rabab Fatima has said they need bold, innovative, improved and coordinated support measures from the development partners, United Nations system, and other international and regional organizations to ensure the sustainability of the graduating and the graduated countries.
She was speaking at the virtual thematic discussion on LDC5 PrepCom entitled, ‘Towards Improved Support to Graduating and Graduated Countries’ as the Chair held in New York on Wednesday.
The discussion event was jointly organised by the Permanent Mission of Bangladesh, the United Nations Committee for Development Policy (UN-CDP) and the United Nations Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and the Small Island Developing States (UN-OHRLLS).
Bold, coordinated support measures required to ensure sustainable graduation: Dhaka
Permanent Representative of Bangladesh to the UN Ambassador Rabab Fatima has said they need bold, innovative, improved and coordinated support measures from the development partners, United Nations system, and other international and regional organizations to ensure the sustainability of the graduating and the graduated countries.
She was speaking at the virtual thematic discussion on LDC5 PrepCom entitled, ‘Towards Improved Support to Graduating and Graduated Countries’ as the Chair held in New York on Wednesday.
The discussion event was jointly organised by the Permanent Mission of Bangladesh, the United Nations Committee for Development Policy (UN-CDP) and the United Nations Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and the Small Island Developing States (UN-OHRLLS).
This February, Bangladesh received the endorsement of the United Nations Committee for Development Policy (UNCDP) regarding its final timeline for exiting the Least Developed Countries (LDCs) group. Bangladesh is now scheduled to leave the LDC category in 2026.
As we leave the group, Bangladesh will miss out on the LDC -specific preferences and privileges afforded by its international development partners. The most specific and significant loss will be duty-free and quota-free (DFQF) market access for the country s export items.
This is a situation that all Bangladesh exporters will be watching most closely. The EU (along with the huge UK) market currently accounts for about 62 percent of apparel exports and nearly 56 percent of all exports from Bangladesh. Losing these huge trading benefits overnight represents a serious risk for Bangladesh s export competitiveness. Logically, addressing DFQF loss-related fallouts particularly in the EU market must be a core pillar of Bangladesh s