Highlights
- LDC support measures may shrink with global slowdown
- Bangladesh urged to cut reliance on LDC facilities
- Call to raise wages and improve worker training
- Eco-friendly energy stressed for export competitiveness
- ERD says transition roadmap must be implemented
- Business leaders seek three-year deferment of graduation
International support measures (ISMs) dedicated to Least Developed Countries (LDCs) may be squeezed in the coming days due to the changing global economic scenario, Special Assistant to the Chief Adviser for the Ministry of Finance Anisuzzaman Chowdhury has warned.
Speaking as chief guest at a seminar on “LDC Graduation and Structural Transformation” held today (16 September) in the capital’s NEC 2 Conference Room, he stressed the need for Bangladesh to reduce reliance on LDC-specific ISMs and prepare to sustain its competitive edge without such privileges, reads a ministry press release.
“Whether the country remains an LDC or not, ISMs will be difficult to access in the future due to global economic contraction,” Anisuzzaman said.
He also urged the private sector to raise industrial workers’ wages, provide adequate training to boost productivity, and explore cheap, eco-friendly energy solutions to ensure compliance in global markets.
The seminar was organised by the Support to Sustainable Graduation Project (SSGP) of the Economic Relations Division (ERD) and chaired by ERD Secretary Md Shahriar Kader Siddiky.