Dedicated entity like JETRO, USTR to oversee LDC graduation
The government has announced plans to establish a permanent trade negotiating body, akin to Japan’s Japan External Trade Organisation (JETRO) and the United States’ United States Trade Representative (USTR).
This specialised body will oversee all activities related to Bangladesh’s Least Developed Country (LDC) graduation process, leveraging a team of experienced professionals to ensure a smooth transition.
Special Assistant to the Chief Adviser, Anisuzzaman Chowdhury, revealed the decision on Tuesday (April 15) during a press briefing at the Foreign Service Academy.
He emphasised that there is "no turning back" from Bangladesh's graduation from the LDC category, underscoring the need for robust institutional mechanisms to address challenges and opportunities arising from this milestone.
Following a high-level meeting on LDC graduation chaired by Chief Adviser Muhammad Yunus, Anisuzzaman stated that the proposed body will continuously monitor issues tied to LDC graduation and negotiate trade agreements with various countries.
"This body will not only consist of government officials but will also include experienced expatriate Bangladeshis and skilled professionals from the private sector," he explained.
"Individuals from sectors likely to face losses due to LDC graduation will also be included based on their expertise."
Anisuzzaman highlighted that trade negotiations are currently managed by officials from the Ministry of Commerce and the Ministry of Foreign Affairs, who are often transferred after serving two to three years. This frequent rotation disrupts continuity and undermines long-term planning.
In contrast, the new body will appoint individuals on a permanent basis, ensuring stability and expertise in handling complex trade negotiations. The search for qualified candidates has already begun, he added.
The establishment of this body reflects the government’s commitment to addressing the multifaceted challenges posed by LDC graduation. By bringing together experts from diverse fields, including the private sector and diaspora, the initiative aims to create a comprehensive framework for navigating post-LDC realities.
