Mr. Sheikh Bashir Uddin, Advisor to the Ministry of Commerce of Bangladesh, emphasized the importance of boosting efficiency and competitiveness in trade to mitigate the economic challenges associated with the upcoming transition of Bangladesh from the Least Developed Country (LDC) category to a developing nation by November 2026, a shift that will introduce new export regulations. 

Speaking at the eighth National Trade Facilitation Committee (NTFC) meeting, he urged the implementation of a trade facilitation roadmap and collaboration among working groups to set clear targets for this transition.

Mr. Bashir highlighted that Bangladesh has until 2030 to fully adapt to its new status. This will provide a critical window to enhance capabilities and streamline business operations. He called for setting specific timelines for initiatives under the Trade Facilitation Agreement (TFA), which aims to simplify international trade regulations and promote faster import-export activities. He stressed the need for improved coordination and cooperation among stakeholders to ensure a smooth transition. The ministry reinforced that implementing the TFA will be essential in liberalizing trade and driving economic growth during this crucial period. 

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Commerce advisor stresses trade facilitation roadmap implementation for LDC graduation