Home breadcru News breadcru Policy breadcru Bangladesh urges OECD nations for preferential facilities till 2029

Bangladesh urges OECD nations for preferential facilities till 2029

31 May '22
2 min read
Bangladesh Prime Minister Sheikh Hasina. Pic: pmo.gov.bd
Bangladesh Prime Minister Sheikh Hasina. Pic: pmo.gov.bd

Bangladesh Prime Minister Sheikh Hasina recently urged Japan and other countries in the Organisation for Economic Cooperation and Development (OECD) to extend preferential facilities at least until 2029 for smooth graduation to a developing nation.

“We would deeply appreciate if Japan and other OECD countries do it at least till 2029 to help us to attain the overarching goals of sustainable development by 2030,” she said in a video message.

Her video statement was addressed to the 27th International Nikkei Conference on Future of Asia.

As Bangladesh is set for graduation from the least developed country (LDC) status in 2026, it will lose preferential facilities for LDCs then.

“We are already taking various measures for a smooth graduation. We have urged through the UN mechanism to our friends and partners to consider extending preferential facilities to Bangladesh for an extended period beyond 2026,” Hasina said.

“Bangladesh is at different stages of negotiations on FTA [free trade agreement] with several countries, and open to negotiating FTA and CEPA [Comprehensive Economic Partnership Agreement] with other countries, including Japan,” she was quoted as saying by Bangladeshi media reports.

“Indeed, we could successfully manage the challenges of the pandemic relatively well. Our efforts have been recognised in the Nikkei's COVID-19 Recovery Index for April 2022, where Bangladesh is ranked 5th out of 121 countries, and the best-performing country in South Asia in COVID management and recovery,” she added.

ALCHEMPro News Desk (DS)

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