Adviser Urges Faster Trade Facilitation for LDC Graduation

Commerce Adviser Sk Bashir Uddin today spoke at National Trade Facilitation Committee (NTFC) at BIAM Foundation Multipurpose Hall in the capital today. Photo : PID

Speaking at the eighth meeting of the National Trade Facilitation Committee (NTFC) held at the BIAM Foundation Multipurpose Hall in Dhaka, Bashir emphasized that enhancing the nation’s capacity and competitiveness is vital for a smooth transition from LDC status.

The meeting was organized by the Ministry of Commerce, with Bashir presiding over the session. Lutfey Siddiqi, the Chief Adviser’s Special Envoy for International Affairs, attended as a distinguished guest.

“We are on track to graduate from LDC status by November 2026, which will bring new regulatory challenges for our exports,” the Commerce Adviser noted. “To mitigate potential economic impacts, strengthening our capacity and boosting competitiveness through skill development will be essential.”

Bashir pointed out that Bangladesh has a window until 2030 to make the necessary adjustments. "This timeframe provides a valuable opportunity for effective planning. If we graduate in 2026, our working groups must define clear objectives to ensure a smooth transition," he said.

Lutfey Siddiqi echoed Bashir's remarks, underscoring the importance of a well-structured timeline for implementation. "Strengthening our capabilities while simplifying trade operations is crucial. Coordination and cooperation across sectors will be key to achieving our goals," he stressed.

The meeting saw participation from senior officials, including the Senior Secretary of the Ministry of Shipping, the Secretary of the Bridges Division, the Secretary of the Legislative and Parliamentary Affairs Division, the Secretary of the Posts and Telecommunications Division, and the Acting Secretary of the Ministry of Commerce. Key industry stakeholders, including the Chairman of the Bangladesh Trade and Tariff Commission, the Administrator of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), and other leaders from the Chattogram Port Authority and Export Promotion Bureau (EPB), were also present.

The Trade Facilitation Agreement (TFA), which aims to liberalize trade by streamlining international trade regulations and procedures, has already seen significant progress. Under the TFA framework, initiatives are divided into three categories—A, B, and C.

Bangladesh notified the World Trade Organization (WTO) of its plans to implement 21 initiatives under Category A on February 20, 2018. Implementation of 18 initiatives under Category B has been completed, with notifications sent to the WTO. For Category C, which has a deadline of June 30, 2030, five of the 15 initiatives have been implemented, with the remaining 10 in progress.

The continued effort to meet these deadlines will be critical to ensure Bangladesh’s smooth graduation from LDC status and its continued success in global trade.