Economy-first politics key to LDC transition: Info Minister

Information and Broadcasting Minister Zahir Uddin Swapan has said on Monday that Bangladesh must place politics within an economy-friendly framework if it is to effectively address the challenges of graduating from the Least Developed Country (LDC) category and strengthen its trade competitiveness.

Speaking at a workshop titled “LDC Graduation and Trade Competitiveness”, organised by the Research and Policy Integration for Development (RAPID) at the National Press Club in Dhaka, the minister says expert discussions alone will not deliver public benefits without concrete political action.

“Tangible initiatives by political leadership are required to transform theoretical dialogue into public benefit,” he said.

Swapan warns that Bangladesh’s trade-related challenges will increase rather than diminish after LDC graduation. He says the government has already requested the relevant United Nations authorities to defer the country’s graduation timeline until November 2029 to allow more time for preparation.

He said that the government, under the leadership of Prime Minister Tarique Rahman, is giving the highest priority to economy-friendly politics.

According to the minister, Bangladesh faces relatively fewer trade barriers in markets such as the United Kingdom and Australia, but continues to encounter significant challenges in several other export destinations.

He said that the additional three-year period should be used to formulate a coordinated roadmap to reform policies, reduce bureaucratic complexities and accelerate export growth.

Swapon also called for assessing how many of the 157 measures outlined in the United Nations Smooth Transition Strategy can be implemented domestically. He stresses the need to develop skilled human resources through government initiatives and expand overseas employment to strengthen the country’s export capacity.

Referring to the political changes following the July student-led mass uprising, the minister says the government’s principal objective is to reform and rebuild the structural foundations of politics for the benefit of the people.

He assured participants that the recommendations and opinions emerging from the workshop will be communicated to the government’s policymaking authorities.

The workshop is chaired by RAPID Chairman Dr M A Razzak. Economic Reporters Forum (ERF) President Daulat Akter Mala and RAPID Executive Director and Dhaka University Professor Dr M Abu Yusuf attend as special guests, alongside journalists and economic analysts.