Muktadir seeks 3 years’ extension

Commerce Minister Khandakar Abdul Muktadir has urged stronger international support to ensure Bangladesh's smooth, sustainable and stable graduation from the Least Developed Country (LDC) category and seeking a three-year extension to the country's graduation preparatory period, reports BSS.
During separate bilateral meetings with the President and Vice-President of the United Nations Economic and Social Council (ECOSOC), at the UN Headquarters, the commerce minister explained to ECOSOC President and Permanent Representative of Nepal Ambassador Lok Bahadur Thapa and ECOSOC Vice-President and Permanent Representative of Algeria Ambassador Amar Bendjama the rationale behind Bangladesh's request for extending the preparatory period by three years.
Muktadir said Bangladesh could not fully utilise the originally scheduled preparatory period due to the country's ongoing economic and political transition, global economic uncertainties, the energy crisis, disruptions in supply chains, the multidimensional impacts of climate change and other external challenges, said a ministry press release.
He said the additional time would enable Bangladesh to consolidate structural reforms, strengthen governance, restore macroeconomic stability, reinforce the financial sector, create a more investment-friendly environment, improve infrastructure and effectively implement a comprehensive Smooth Transition Strategy.