Published: 01:43 AM, 08 July 2026
Economy-friendly politics key to LDC success: Swapon
Minister for Information and Broadcasting Zahir Uddin Swapon, MP on Sunday said all discourses of the experts on the challenges of the country's graduation from LDC and overall development of trade and commerce would ultimately remain confined to theoretical debates unless the country's politics is brought within an economy-friendly framework.
“Tangible initiatives by political leadership are required to transform theoretical dialogue into public benefit,” he said while addressing a workshop titled "LDC Graduation and Trade Competitiveness", organised by Research and Policy Integration for Development (RAPID) at Zahur Hossain Chowdhury Hall of National Press Club in the capital.
The information minister said trade-related challenges facing the country after LDC graduation would not decrease but rather increase. The government has already requested the relevant UN to defer the graduation timeline until November 2029 with the main objective of getting prepared, he added. "Under the leadership of Prime Minister Tarique Rahman, the present government is giving the highest priority to economy-friendly politics,” he said. Swapon said, “We face fewer trade challenges in countries like the United Kingdom or Australia. But we have a number of challenges in other export destinations.
During these additional three years, we have to formulate a coordinated roadmap to reform policies, remove bureaucratic complexities and increase export growth," he observed.
Zahir Uddin Swapon further said work should be carried out to determine how many of the 157 measures under the Smooth Transition Strategy prepared by the United Nations can be implemented in the country's domestic context and how the country's human resources can be developed through state initiatives and sent to the international market to enhance export capacity.
Recalling the democratic environment achieved through the July student-people mass uprising and the blood of the martyrs, he said the main objective of the government, formed through an acceptable election is to reform and repair the structural foundation of politics for the welfare of the people.
The minister assured that the important recommendations and opinions emerging from the workshop would be conveyed to the government's policy-making level. The minister said although Bangladesh had not yet formally graduated from the LDC category, effective preparations must begin immediately to address the challenges in the export sector.
Those challenges were expected to intensify after graduation, he added. Swapon noted that the government had applied to the relevant United Nations committee in February this year to defer the graduation until November 2029.
The additional period, he said, should not be viewed as an opportunity for delay but as a window to complete the necessary preparations for a smooth transition.Newspapers
"The government's policymakers and relevant officials are already working on the issue," he said, adding that if the extension was approved, it would facilitate policy reforms, boost export growth, remove administrative bottlenecks, and help the country better adapt to the post-LDC environment.
Presenting the keynote, Dr Razzaque said Bangladesh's export sector was entering a far more challenging global trading environment as competition intensified and preferential market access gradually eroded.
He noted that competitors such as India and Vietnam were expanding their network of free trade agreements, strengthening their position in key export destinations, including the European Union, while Bangladesh risked losing its traditional competitive edge after graduation.Economic Policy Reviews
He warned that the withdrawal of duty-free market access following graduation could expose Bangladeshi exports to higher tariffs, undermining their price competitiveness unless the country undertook comprehensive reforms.
At the same time, he observed that global trade was increasingly being shaped by environmental, climate, and labour-related standards, making compliance an essential requirement for sustaining market access.
According to Dr Razzaque, Bangladesh can no longer rely solely on low production costs.
Enhancing productivity, improving trade competitiveness, and meeting evolving sustainability and compliance requirements would be critical to maintaining export growth in the post-LDC era, he said.Country Law Updates
Doulot Akter Mala, president of the Economic Reporters' Forum (ERF), attended the programme as the guest of honour. She stressed the need for urgent strategic preparations ahead of graduation, saying the absence of a revised transition strategy, declining foreign direct investment (FDI), and weak competitiveness remained major concerns.
Chaired by RAPID Chairman Dr M A Razzak, the workshop was attended by Economic Reporters Forum (ERF) President Daulat Akter Mala and RAPID Executive Director and Dhaka University Professor Dr M Abu Yusuf as special guests. Journalists from different media outlets and economic analysts took part in the workshop.
