UNB:

Chief Adviser Prof Muhammad Yunus on Tuesday directed the officials concerned to take necessary precautionary measures to keep Bangladesh’s every sector unaffected and ensure maximum benefits as the country remains confident to smoothly graduate from the LDC status.

“We have to move at full speed,” Chief Adviser’s Press Secretary Shafiqul Alam quoted Dr Yunus as saying in a meeting with the experts that lasted for nearly two hours.

The Chief Adviser also laid emphasis on constant monitoring by a dedicated team so that no turbulence is seen in this journey.

Briefing eporters at the Foreign Service Academy, Special Assistant to the Chief Adviser Dr Anisuzzaman Chowdhury said they have discussed all the issues and listed the precautionary measures.

“We must have the conference,” he said, citing examples of how other relatively weaker countries successfully graduated.

He said they are confident that there will be no problems but there will be precautionary measures.

Chowdhury said they are working on having a separate strong trade negotiating body as there is no such trade agency.

Responding to a question, he said they are continuing their economic diplomacy and in economic diplomacy all things cannot be shared, noting that there are always challenges and opportunities.

Chowdhury said the graduation process should be seen positively instead of thinking of stepping back.

Bangladesh is scheduled to graduate from the Least Developed Country (LDC) category to a developing nation in November 2026.

After the graduation, Bangladesh will become ineligible for almost all trade benefits, such as zero duty access, and strictly abide by the Trade Related Aspects of Intellectual Property Rights (TRIPs).

Bangladesh will, however, continue to enjoy duty-free market access for three more years after its graduation to a developing nation in 2026.

The extension was endorsed by 166 members of the World Trade Organisation (WTO) at its Ministerial Conference held in Abu Dhabi a year ago.