Products diversification, markets needed to survive post-LDC era

Business Desk :
Bangladesh needed to diversify its export basket and seek out new markets to prevent potential losses after graduating from the least developed countries (LDC), said Saiful Islam, president of the Metropolitan Chamber of Commerce and Industry (MCCI). With Bangladesh set to graduate from an LDC in 2026, the country will have to overcome the challenges that come with the loss of preferential access to most export markets, he also said.
The MCCI president made these remarks when a delegation of the Country Road Group (CRG), one of Australia’s largest fashion retailers, visited the MCCI office in Dhaka on Wednesday, said a press release.
During the meeting, Islam praised Australia’s decision to allow preferential access for Bangladeshi goods even after LDC graduation.
As facilitators of trade and commerce, the MCCI would always pursue improving trade between the two countries, he said.
Leading the delegation, Rachid Maliki, general manager of global supply chain and sourcing, said since Bangladesh’s share in CRG’s sourcing is very low, it has much room to improve.
Maliki then praised Bangladesh’s newest factories and how they were built underscoring safety, security, and green transition.