Bangladesh seeks time for LDC Graduation

Bangla Press Desk:  Amid global trade and economic uncertainty caused by the ongoing conflict in the Middle East, the 14th Ministerial Conference of the World Trade Organisation (WTO) has begun in Yaoundé, Cameroon.

Trade ministers and negotiators from 166 member countries are participating in the meeting. Although the conference aims to reach agreements on various issues, expectations remain relatively low.Key topics on the agenda include WTO reform, incorporating the Investment Facilitation Agreement into WTO rules, finding a permanent solution for public stockholding for food security, limiting subsidies for overfishing, and determining the future of the e-commerce moratorium. Issues related to Least Developed Countries (LDCs) are also being discussed. Countries like Bangladesh have called for the continuation of special trade benefits for a certain period after graduating from LDC status.

Bangladesh’s delegation at the 14th Ministerial Conference is being led by Commerce Minister Khandaker Abdul Muktadir. Bangladesh is scheduled to graduate from the LDC category by November this year. However, the government has formally applied to the United Nations Committee for Development Policy (UNCDP) for a three-year extension.

Speaking about the graduation, the commerce minister said it is an important milestone in the country’s development journey. While it reflects economic strength and progress, it will also bring certain challenges.

He noted that a large portion of Bangladesh’s exports currently depends on LDC-specific trade benefits and special and differential treatment under WTO provisions. A reduction in these benefits could create pressure on the export sector and the overall economy.

Emphasizing the need for a smooth and sustainable transition, he called for extended support, additional time, and capacity-building measures within the WTO framework. Such support would help graduating countries sustain development gains, increase production capacity, and integrate more effectively into the global trading system.

Regarding WTO reform, he said the process must be inclusive, transparent, and based on the organization’s core principles. He stressed the need to preserve consensus-based decision-making, ensure the participation of small and vulnerable economies, and protect the policy space of developing countries.

Bangladesh also emphasized the restoration of the WTO’s full two-tier dispute settlement system, stating that the credibility of a rules-based trading system depends on an independent judicial mechanism that protects the rights of all member states, including smaller countries.

Meanwhile, several civil society organizations have called on WTO members to reject reform agendas that could weaken the organization’s development goals. A global group named “Our World Is Not for Sale” warned that the proposed reforms could undermine the principle of non-discrimination and increase the influence of powerful countries, allowing them to impose their conditions on others.

At the opening session, WTO Director-General Dr. Ngozi Okonjo-Iweala said that member states must decide whether they want to move the organization forward or risk weakening it.

The conference is being chaired by Cameroon’s Trade Minister Luc-Magloire Mbarga Atangana and is scheduled to conclude tomorrow.