Govt to Form Permanent Trade Body Ahead of LDC Graduation

The government has decided to establish a permanent trade negotiation authority modelled after organisations like Japan's JETRO and the United States Trade Representative (USTR), aiming to strengthen Bangladesh's global trade presence as it prepares to graduate from the Least Developed Country (LDC) category.

Special Assistant to the Chief Adviser, Anisuzzaman Chowdhury, announced the decision on Monday while briefing reporters at the Foreign Service Academy. He emphasised that the country’s LDC graduation is now inevitable, and the new body will play a critical role in ensuring a smooth and strategic transition.

The decision was taken following a high-level meeting chaired by Chief Adviser Muhammad Yunus, focusing on key issues surrounding LDC graduation.

According to Anisuzzaman, the new entity will be responsible for managing all matters related to LDC graduation, including negotiating trade deals with various countries and monitoring trade policy developments on a continuous basis.

Unlike the current practice where trade negotiations are conducted by officials from the commerce and foreign affairs ministries—who are often transferred every few years—the new trade body will comprise a stable team of experts. It will include not just government officials, but also experienced professionals from the private sector, expatriate Bangladeshis, and experts from sectors expected to be affected by the graduation.

"The aim is to build a skilled, permanent institution that can negotiate effectively on behalf of Bangladesh’s long-term trade interests," Anisuzzaman said, adding that the search for qualified individuals to join the team is already underway.