The government is set to collaborate with the World Bank and the Asian Development Bank to bolster its capacity in negotiating free trade agreements with multiple countries, a key step in ensuring Bangladesh鈥檚 smooth and sustainable graduation from the least developed country status in November 2026.
The decision came at a meeting of the national steering committee on the implementation and monitoring of the smooth transition strategy, chaired by chief adviser Professor Muhammad Yunus at the Chief Adviser鈥檚 Office at Tejgaon in the capital Dhaka on Wednesday.
The two-and-a-half-hour meeting reviewed the country鈥檚 readiness and policy priorities for a smooth and sustainable graduation.
Business leaders at the meeting proposed a series of measures to ensure the country鈥檚 sustainable graduation from LDC status, with a strong focus on energy security, investment facilitation and human capital development.
Finance adviser Salehuddin Ahmed, commerce adviser Sk Bashir Uddin, industry adviser Adilur Rahman Khan, foreign affairs adviser Mohammad Touhid Hossain, agriculture adviser M Sakhawat Hossain, planning adviser Wahiduddin Mahmud, home affairs adviser Jahangir Alam Chowdhury, environment adviser Syeda Rizwana Hasan, special assistant to the chief adviser Anisuzzaman Chowdhury, principal secretary Siraj Uddin Mia, Bangladesh Bank governor Ahsan H Mansur, National Board of Revenue chairman Md Abdur Rahman Khan, and special envoy to the chief adviser on international affairs Lutfe Siddiqui, among others, attended the meeting.
Representatives from the private sector, including Bangladesh Garment Manufacturers and Exporters Association president Mahmud Hasan Khan, Dhaka Chamber of Commerce and Industry president Taskin Ahmed, and Bangladesh Association of Pharmaceutical Industries president Abdul Muktadir, also joined the meeting.
Following the meeting, chief adviser鈥檚 press secretary Shafiqul Alam briefed the media at the Bangladesh Foreign Service Academy, saying that discussions were going on with Japan, South Korea, Singapore, the United Arab Emirates and Malaysia to explore bilateral trade agreements.
He said that the government had already formed a negotiation team but would need additional institutional capacity, for which it was engaging with the WB and the ADB for technical assistance.
To ensure sustainable graduation, the BGMEA president emphasised the need for an uninterrupted gas supply to support the man-made fibre industry, urging the government to expedite the construction of new regasification units and establish a land-based LNG terminal.
He also pointed to the growing adoption of solar panels across factories, saying that this trend was helping to reduce electricity costs and enhance sustainability.
BAPI president Muktadir stressed the importance of completing the regasification facilities early to start production in the Active Pharmaceutical Ingredient Park.
He cautioned that the current oversupply of business graduates stood in contrast to the acute shortage of science-trained professionals required for the country鈥檚 technology-driven sectors.
According to the press secretary, during the meeting, chief adviser underscored the importance of self-reliance, saying Bangladesh must end dependency and build a resilient, knowledge-based economy.
鈥楾he new Bangladesh means a self-reliant Bangladesh. We must build a self-reliant economy to free the nation from dependency. We do not wish to live in subjugation,鈥� Shafique said quoting the chief adviser.
He said that the meeting also reviewed policy areas critical to the transition process and decided that a new Import Policy Order for 2026鈥�2028 would be announced soon to facilitate trade diversification and export competitiveness.
On the issue of labour migration, the chief adviser instructed the foreign affairs ministry to prioritise resolving visa complexities, particularly to expand access to emerging labour markets in Eastern European countries, where Bangladesh currently has limited diplomatic presence.
The meeting reviewed plans to increase ICT export incentive for advanced digital firms and introduce a new road map to boost job creation and skills development in the sector.
Bangladesh Bank governor Ahsan H Mansur briefed the meeting on financial sector developments, noting that non-performing loans stood at about 24 per cent but the central bank aimed to reduce those to 5 per cent.
He informed the meeting that nine non-bank financial institutions would be liquidated, and a Tk 900 crore venture capital fund for startups was being created, with the Bangladesh Bank contributing an additional Tk聽600 crore to supporting innovation and entrepreneurship.
The CA鈥檚 press secretary also said that the chief adviser Yunus was scheduled to travel to Rome on October 12 to attend the World Food Forum, where he would deliver speech and hold bilateral meetings with international leaders.
