Govt won't rush LDC status upgrade process: Salehuddin

The government will not implement the process of upgrading from LDC status abruptly, Finance and Commerce Adviser Dr Salehuddin Ahmed said today (10 November). 

"A careful decision will be made regarding the timing of the transition," he said while talking to reporters after an event on the initiation of discussions for a Bangladesh-Singapore Free Trade Agreement (FTA).

Dr Salehuddin also expressed that the government aims to sign free trade agreements with as many countries as possible, with a particular focus on Japan, Indonesia, and India. Additionally, efforts will be made to engage with ASEAN countries and Malaysia.

He highlighted that businesses are always concerned about trade and require various facilities and opportunities, which the government is taking into consideration.

He further noted that Singapore represents a promising area for expanding trade with Bangladesh. 

"To boost trade and investment between the two nations, efforts have been initiated to sign a Free Trade Agreement," he added.

Singapore's High Commissioner to Bangladesh, Derek Loh, emphasised in his speech the strategic importance of Bangladesh, particularly Chattogram, for Singapore due to its geographical location. 

He mentioned that Singapore's PSA shipping company is investing in Chattogram's Bay Terminal, which will transform the international port and enhance trade between the two countries.

The event was attended by Interim Government's Chief Adviser on International Affairs, Special Envoy Lutfur Siddiqui, Bangladesh Investment Development Authority (BIDA) Chairman Chowdhury Ashik Mahmud Bin Harun, and Secretary of the Ministry of Commerce Mohammad Selim Uddin.

Earlier, Singapore's High Commissioner Derek Loh paid a courtesy call on Trade Adviser Dr Salehuddin Ahmed at his office in the Secretariat.