Staff Reporter :
Bangladesh will take more time to decide on its graduation from the least developed country (LDC) category on a bid to secure businesses benefits for longer, scheduled for 2026, Commerce Adviser Salehuddin Ahmed said on Sunday.
The Adviser came with the comment in replying to journalists’ query at the negotiation launching ceremony of the Bangladesh-Singapore Free Trade Agreement (FTA) at the Ministry of Commerce in the capital.
He said also the business leaders prefer to delay the LDC graduation to retain trade benefits for a longer period.
“Bangladesh will prioritize smooth graduation from LDC. It will not happen suddenly.
It will happen at a reasonable time. The graduation will be in the interest of Bangladesh, in the interest of the people,” the Adviser said.
“The decision will be taken considering the situation that can be overcome easily,” he said.
Salehuddin said the government will take initiatives to sign FTA with as many countries as possible.
“Singapore is a potential country for Bangladesh’s trade expansion.
In addition to products, there is also the possibility of developing Bangladesh’s relations with Singapore in the service and investment sectors,” the Adviser said.
He said the initiative to sign a FTA has been taken initially with an aim to increase the trade and investment between the two countries.
High Commissioner of Singapore in Dhaka Derek Loh said that Bangladesh, especially Chattogram, is very important for Singapore due to its geographical location.
Singaporean shipping company PSA is investing in Chattogram Terminal, which will become a major international port through Bay-Terminal Transformation, he added.
Based on this, the trade between the two countries will increase, he opined.
Chief adviser’s Special Envoy on International Affairs Lutfe Siddiqui, Bangladesh Investment Development Authority (BIDA) Executive Chairman Chowdhury Ashik Mahmud Bin Harun and Secretary of the Ministry of Commerce Md Selim Uddin, among others, spoke on the occasion.
Earlier, Singapore’s High Commissioner Derek Loh had a courtesy call on Salehuddin Ahmed in his secretariat office.