UN expert meets BGMEA, discusses LDC graduation challenges

Business Report :

Taffere Tesfachew, a member of the United Nations Committee for Development Policy (CDP), met with Anwar Hossain, Administrator of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), at the BGMEA Complex in the capital on Tuesday.

The meeting aimed to discuss Bangladesh’s upcoming graduation from Least Developed Country (LDC) status and its potential implications for the country’s economy, particularly the ready-made garment (RMG) industry.

During the meeting, Anwar Hossain highlighted the potential challenges and opportunities that may arise from LDC graduation. He emphasized the need for strategic planning to ensure a smooth and sustainable transition, especially for the RMG sector, which is a cornerstone of Bangladesh’s economy.

Both parties agreed on the importance of adopting a comprehensive and inclusive approach to mitigate potential negative impacts and capitalize on emerging opportunities. The meeting was attended by A H M Jahangir, Wing Chief of the Economic Relations Division (ERD) and Project Director of the SSGP Project, along with Dr. Mostafa Abid Khan, Component Manager of the SSGP Project at ERD.