EU, G77, China reaffirm support for Bangladesh’s LDC graduation

The European Union (EU) and the Group of 77 and China recently reaffirmed their support for Bangladesh’s efforts to ensure a smooth, sustainable and irreversible graduation from the least developed country (LDC) status.The assurances came during separate meetings held at the United Nations headquarters in New York between Bangladesh Commerce Minister Khandakar Abdul Muktadir, and head of the EU Delegation to the UN Stavros Lambrinidis and permanent representative of Uruguay to the UN ambassador Laura Dupuy Lasserre, who is also the chair of the Group of 77 and China.

The EU and the Group of 77 and China recently reaffirmed their support for Bangladesh’s efforts to ensure a smooth, sustainable and irreversible graduation from the LDC status.
The assurances came during meetings at the UN headquarters during the visit of Commerce Minister Khandakar Abdul Muktadir, who explained the logic behind the request for a three-year extension of the graduation preparatory period.

Muktadir explained the rationale behind Bangladesh’s request for a three-year extension of the LDC graduation preparatory period, citing the country’s ongoing economic and political transition, global economic uncertainties, energy challenges and the need to consolidate wide-ranging structural reforms.

He reiterated the government’s commitment to strengthening governance, improving the financial sector, expanding infrastructure, enhancing domestic resource mobilisation and creating a more investment-friendly business environment.

The minister said the additional time would help consolidate reforms, address infrastructure constraints, strengthen industrial competitiveness and ensure that Bangladesh’s graduation remains smooth, sustainable and irreversible, according to a domestic media outlet.

Fibre2Fashion News Desk (DS)