Tarique warns of economic risks as Bangladesh nears LDC graduation
He pointed out several issues that could arise if the country does not proceed cautiously.
BNP acting chairman Tarique Rahman has raised concerns over potential economic challenges as Bangladesh approaches graduation from the United Nations' Least Developed Country (LDC) category in November 2026.
In a Facebook post today (16 September), Tarique said, "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 questioned what the transition would mean for the resilience of domestic businesses, which he described as "the engines of growth in our communities".
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Tarique pointed out several issues that could arise if the country does not proceed cautiously.
He warned that the loss of trade preferences could hurt Bangladesh's garment exports and reduce competitiveness, while access to concessional loans and aid may shrink, increasing financial pressure at a time when reserves and debts are already under stress.
He also noted that trade privileges under the World Trade Organization, including flexibility on subsidies and medicine patents, would no longer apply, potentially raising the cost of essential medicines.
He added that the country's heavy export dependency on a single sector could leave it vulnerable if its competitive edge erodes.
"Urgent steps must be taken to ensure our home-grown businesses are not left vulnerable," Tarique wrote.
The BNP leader urged diversifying exports beyond garments into sectors such as ICT, pharmaceuticals, and other value-added industries, strengthening public institutions to maintain financial discipline, investing in productivity, trade logistics, and modern infrastructure, and ensuring that foreign commitments on trade facilities and green financing are realised to support the transition.
He concluded, stating, "Let us not leave our workers, farmers, and youth behind in a vulnerable place. Bangladesh needs real, tangible progress and opportunities for its citizens before it is able to reap the benefits of graduating."
