Bangladesh, Sweden discuss trade options ahead of LDC graduation

Bangladesh and Sweden have discussed future trade arrangements with the European Union as Dhaka prepares to graduate from the UN’s Least Developed Country (LDC) category.

The issue came up during a meeting between Swedish Ambassador to Bangladesh Nicolas Weeks and State Minister for Foreign Affairs Humaiun Kobir at the Ministry of Foreign Affairs on Sunday.

Weeks congratulated Kobir on assuming office and exchanged views with him on strengthening bilateral relations, with the discussions focusing on development assistance, trade and investment, migration governance and climate change.

The State Minister described Sweden as a trusted and longstanding partner of Bangladesh and highlighted the scope for expanding economic engagement between the two countries.

He encouraged greater Swedish investment in Bangladesh in sectors including renewable energy, green technology, pharmaceuticals, engineering and telecommunications.

The two sides also exchanged views on Bangladesh’s graduation from the LDC category and the country’s future trade arrangements with the European Union.

Bangladesh is set to graduate from the LDC category, a transition that will gradually affect some of the trade preferences the country currently enjoys.

Securing favourable post-graduation market access, particularly in major export destinations such as the EU, remains a key priority for Dhaka.

The State Minister also appreciated Sweden’s support for Bangladesh’s socio-economic development, democratic transition and institutional strengthening.

He thanked Sweden for co-hosting with Bangladesh a high-level event on integrating midwifery into primary healthcare on the sidelines of the 81st UN General Assembly last month.