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Bangladesh Nationalist Party acting chair Tarique Rahman has raised concerns over potential economic challenges as Bangladesh prepares to graduate from the UN Least Developed Countries category in November 2026.

‘Graduation is not just a milestone – it comes with risks and challenges, which we need to be honest about, directly affecting our economy and people,’ he said in a post on Facebook and X on Tuesday.

Tarique raised several concerns, including the potential loss of trade preferences for the country’s  readymade garment sector that accounts for the bulk of the country’s export earnings.

‘Loss of trade preferences may hurt our garments exports and reduce competitiveness,’ he cautioned.

Tarique also pointed to looming financial pressures, observing that access to concessional loans and aid would shrink, which could increase financial strain at a time when reserves and debts would already cause stresses.

According to Tarique’s social media post, the withdrawal of special privileges under World Trade Organization rules, particularly those related to subsidies and pharmaceutical patents, could lead to higher costs of essential medicines.

Emphasising the country’s over-reliance on a single sector, Tarique said, ‘Export dependency on one sector makes us vulnerable if competitiveness erodes.’

Outlining possible measures, he urged the RMG sector to take immediate steps to protect businesses and jobs.

Tarique suggested diversifying exports to information technology, pharmaceuticals, and other value-added industries, strengthen financial discipline, and invest in modern infrastructure to remain competitive on the global market.

‘We must take urgent steps now to ensure that our homegrown businesses are not left vulnerable,’ the BNP acting chair commented.

He called for actualising international commitments on trade facilities and green financing to facilitate the transition.

Concluding his message, Tarique appealed: ‘Let us not leave our workers, farmers, and youth in a vulnerable position. Bangladesh needs real and tangible progress, and opportunities for its citizens before it is able to reap the benefits of graduating.’