WTO affirms support for BD's trade transition post-LDC graduation

The World Trade Organization (WTO) has affirmed its commitment to providing robust support for Bangladesh as the nation approaches its scheduled graduation from Least Developed Country (LDC) status in 2026, reports BSS.

To this end, WTO Deputy Director-General Xiangchen Zhang outlined comprehensive measures and transition periods designed to mitigate potential market access challenges and secure the nation's trade position.

"LDC graduation is a crucial priority for the LDC Group within the WTO. To ensure a smooth process, WTO members have taken two key steps over the past two years," he said in an online interview with BSS.

First, he said, they encouraged preference-granting members to provide a smooth and sustainable transition period before withdrawing duty-free quota-free market access after graduation.

"Second, at the 13th Ministerial Conference, WTO members offered LDC graduates a three-year transition period to integrate WTO rules and to benefit from the LDC-specific technical assistance offered under the WTO's Technical Assistance and Training Plan. So, during 2026 - 2029, Bangladesh will have the necessary space to adjust to WTO rules and disciplines."