WTO sees extended LDC transition period as opportunity for BD

The World Trade Organization (WTO) has underscored the importance of utilizing any extended transition period for Least Developed Country (LDC) graduation to strengthen productive capacity, improve competitiveness, diversify exports and prepare for operating under standard WTO rules, reports BSS.
"WTO members have already taken steps to support graduating LDCs in ensuring a smooth and sustainable transition," said WTO Deputy Director-General Xiangchen Zhang while talking to BSS.
He noted that the decision adopted at the WTO's 13th Ministerial Conference provides graduating LDCs with additional time to align with WTO disciplines.
As an example, he said if Bangladesh graduates in 2026 as originally scheduled, it would have until 2029 to complete the alignment process.
"Regardless of the exact timing of graduation, the transition period is an important opportunity for graduating LDCs to further strengthen their productive capacity, enhance competitiveness, and improve the overall investment and business environment," Zhang said.
He added that the period should also be used to prepare for operating under more general WTO rules in a predictable and sustainable manner.
The WTO official observed that Bangladesh has demonstrated strong development dynamism over the years and is well positioned to continue making the necessary adjustments.
Where challenges arise during the transition process, he said, there remains scope for constructive engagement with trading partners to address specific concerns in a cooperative manner.