No option to delay LDC graduation: Industries secretary
Ministry of Industries Secretary Md Obaidur Rahman has said that Bangladesh no longer has the option to delay its graduation from the Least Developed Country (LDC) category, as the country has already met the required criteria.
"The previous government manipulated a lot of data through the Bangladesh Bureau of Statistics (BBS). We fulfilled the criteria for LDC graduation long ago. Given the current context, graduation is good for Bangladesh; there's no scope to stay outside it anymore," he said.
The secretary made these remarks today (8 November) while speaking at a focus group discussion titled "Strengthening the Intellectual Property Regime for Post-LDC Competitiveness in Bangladesh", organised by the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI)'s Innovation and Research Centre.
Mentioning that graduation from the LDC category is not a threat but a great opportunity, he said, "If we can promote innovation, increase patent awareness, and make the SME sector more technology-driven, Bangladesh will gain a competitive edge in the global market."
Obaidur added that a committee led by the industries ministry has already identified potential export sectors for the post-LDC period, including plastics, light engineering, and pharmaceuticals, among eight to ten priority sectors.
"Most countries have synergy among academia, industry, and government," the industries secretary said.
"But we haven't yet developed that integrated culture in Bangladesh. Such collaboration will be crucial for technology transfer, human resource development, and financing after graduation."
Presenting the keynote paper, FBCCI former administrator and trade policy expert Md Hafizur Rahman said Bangladesh must strengthen its Intellectual Property Rights (IPR) regime after its LDC graduation in 2026 to sustain export competitiveness and encourage innovation.
He added that while graduation may reduce some trade preferences and subsidies, stronger IPR enforcement could attract more foreign direct investment (FDI), promote innovation, and ensure better consumer protection.