‘Graduation from LDC will create more opportunities’

Business Desk :
Finance Minister AHM Mustafa Kamal on Wednesday said that Bangladesh’s graduation from the LDC status would create more opportunities for the country while its economy would be further strengthened day by day.
“There will be no such problem for us after the graduation from the LDC, rather much more opportunities will be created for us. All countries like us were benefitted from graduation,” he said.
The finance minister said this while replying to a volley of questions virtually from reporters after chairing two separate meetings on the Cabinet Committee on Economic Affairs and the Cabinet Committee on Government Purchase (CCGP), reports BSS.
The recommendation for graduation came at the CDP’s triennial review on the LDC category in the early hours of last Saturday, as the country had met all three criteria in the last three years.
Now the CDP recommendation needs to be approved by the UN Economic and Social Council, and then it will be placed before the UN General Assembly for getting the final nod as a non-LDC country.
As per the system, Bangladesh may get the final nod from the UN in 2024, but will get it in 2026 as the government has sought two more years to graduate from the LDC status due to the pandemic.
Kamal said Bangladesh would get a lot more than the loss it would incur following the graduation from the LDC status.
“Our strength and position in the economy will fortify, our economy will be further strengthened and consolidated day by day. We’ll be able to think about our next stage from a strong position,” he added.