Graduation from the Least Developed Country (LDC) list marks a critical juncture for Bangladesh's economy. To make this graduation process sustainable and stable, the country's entrepreneurs have advised formulating specific sector-based strategies for various industries, including Small and Medium Enterprises (SMEs), agriculture, and pharmaceuticals. They believe that merely adopting strategies is insufficient; their proper implementation and regular monitoring are also crucial. Entrepreneurs presented their well-considered opinions at an exchange of views meeting organized by the top business body FBCCI at Federation Bhaban in Motijheel, Dhaka, on Monday (August 31, 2026).
In this meeting on determining strategies to enhance private sector participation and capacity in reform activities for LDC graduation, speakers particularly emphasized increasing the capacity of local entrepreneurs, skill development, research and innovation, increased use of technology, easy financing, logistics support, and ensuring uninterrupted energy supply. They agreed that if these issues are not resolved, it would be difficult for Bangladesh to enhance its competitive capability in the international market.
FBCCI Administrator Md. Fazlul Hoque presided over the meeting. In his speech, he stated that the additional three years granted for LDC graduation must be utilized properly with utmost importance. He expressed hope that if the private sector's capacity is enhanced, Bangladesh's competitive capability in the international market will significantly increase. At the beginning of the meeting, FBCCI Secretary General Md. Alamgir presented a detailed report on the various challenges and opportunities of Bangladesh's LDC graduation, which drew the attention of all attendees.
The report stated that LDC graduation carries a high probability of Bangladesh losing duty-free market access facilities such as GSP (Generalized System of Preferences) and EBA (Everything But Arms) in Europe, one of its primary export markets. Additionally, intellectual property-related regulations will become stricter in various sectors, including the pharmaceutical industry, creating new challenges for the country's industrial sector. It is imperative to prepare now to tackle these challenges.
Participating in the open discussion, private sector entrepreneurs emphasized that if the strategies for LDC graduation are not realistic, they will not yield effective benefits. Therefore, they proposed collecting accurate information and data from the field level to identify the priority needs of the sectors. In their opinion, strategies should be formulated not just based on top-level policy decisions, but also by considering grassroots demands and realities.
Rajib H. Chowdhury, Senior Vice President of Dhaka Chamber, emphasized increasing Bangladesh's bargaining power in his speech. He stated that the country needs to enhance its bargaining capability at the international level and, simultaneously, fully operationalize the National Single Window, which will make trade processes easier and faster. He commented that these steps would bring new momentum to export trade.
Shamim Ahmed, President of the Plastic Goods Manufacturers and Exporters Association, noted that a significant portion of the country's plastic industry produces 'copy' products. He expressed concern that, similar to the pharmaceutical industry, intellectual property would become a major challenge for this sector after LDC graduation. In such a situation, he advised the rapid adoption of action plans through public-private initiatives to protect cottage, small, and medium industries, including plastics and light engineering.
K.S.M. Mostafizur Rahman, President of the Bangladesh Agro Chemical Manufacturers Association (BAMA), stated that Bangladesh would face significant challenges regarding Intellectual Property Rights (IPR) in industries after LDC graduation. He said that the pharmaceutical, agricultural, and agro-chemical sectors could be particularly affected after LDC graduation. Therefore, he urged the swift registration of all products produced by Bangladesh that fall under patent protection, which would help avoid future legal complications.
Also present at the exchange of views meeting were Md. Hafizur Rahman, former Administrator of FBCCI, and Md. Alamgir, Secretary General of the organization; Neshar Ahmed, International Trade Expert of the Support to Sustainable Graduation Project; Sheikh Hossain Mohammad Mustafiz, Director of BGMEA; Mohammad Rashed, Vice President of BKMEA; Abul Hossain, Chairman of BJMA; Sajid Ishraq, Director of BTMA; Sangeeta Ahmed, President of Bangladesh Women Chamber of Commerce and Industry; Md. Rashedul Karim Munna, President of Bangladesh Diversified Jute Products Manufacturers and Exporters Association, along with important industrial entrepreneurs and business leaders from various sectors of the country. This broad participation reflects the private sector's deep interest and concern regarding the LDC graduation process.
