Experts on Thursday highlighted the need for Bangladesh to develop a national strategy based on accurate data and benefit calculations before graduating from the list of least developed countries (LDCs).

During a media workshop titled ‘WTO Trade Rules and LDC Graduation of Bangladesh,’ jointly organized by EquityBD and the Economic Reporters’ Forum in Dhaka, concerns were raised about data discrepancies that could impact the country’s negotiations with the World Trade Organization (WTO).

Barkat Ullah Maruf, Director of Partnerships and Development Communication at COAST Foundation, stressed the importance of a data-driven national strategy before LDC graduation, noting that such a strategy will be crucial for future WTO negotiations.

He cautioned that data inaccuracies, potentially driven by political motivations, could undermine Bangladesh’s negotiating leverage in sectors like agriculture and fisheries.

Hafizur Rahman, member of the Bangladesh Competition Commission, remarked that while graduating from LDC status could enhance Bangladesh’s ability to compete internationally, a delay in graduation might offer continued benefits and opportunities available to LDCs.

Refayet Ullah Mridha, President of the Economic Reporters’ Forum (ERF), suggested that Bangladesh should consider delaying its LDC graduation for at least another ten years to thoroughly review national data and prepare adequately for the challenges ahead.

Rezaul Karim Chowdhury, Chief Moderator of EquityBD, noted that since 2005, EquityBD and COAST Foundation have advocated for the establishment of a dedicated WTO Cell within the commerce ministry to better manage WTO issues and strengthen the country’s negotiation capabilities.