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WTO to extend support to Bangladesh after LDC graduation
The World Trade Organization (WTO), the Geneva-based intergovernmental organization that regulates and facilitates international trade, has affirmed that Bangladesh will continue to receive substantial support and technical assistance as the country prepares for its transition from Least Developed Country (LDC) status in 2026.
"Access to the WTO's technical assistance will continue for Bangladesh even after graduation," said WTO Deputy Director-General Xiangchen Zhang in an online interview with BSS.
Currently, Xiangchen Zhang said, Bangladesh benefits from a wide array of activities offered under the WTO's Technical Assistance and Training Plan.
The WTO also strengthens trade capacity in developing economies by partnering with other International Organizations, he added.
Regarding the Enhanced Integrated Framework (EIF), the WTO DDG stated that Bangladesh is also a major beneficiary of the EIF, which is designed to help LDCs become more active participants in global trade.
The EIF is currently transitioning into its third phase, he added.
Significantly, Bangladesh will have five years to continue accessing EIF benefits following its graduation, he said.
With support from the EIF, he said, Bangladesh has successfully bolstered its food processing capacity and developed a strategy aimed at diversifying its garment sector to move up the value chain.
In terms of financial support, Xiangchen Zhang said, the country has been a significant recipient under the WTO's Aid for Trade Initiative, which helps developing economies strengthen their capacity to trade.
Bangladesh stands among the top ten recipients of the WTO's Aid for Trade Initiative, having received US$23 billion between 2006 and 2023.
Domestically, he noted that Bangladesh maintains strong institutional infrastructure related to the WTO, notably operating a WTO Reference Centre at the Bangladesh Foreign Trade Institute (BFTI) to provide access to documents and trade-related information.
Xiangchen Zhang, however, mentioned that a key consideration for Bangladesh post-graduation is its engagement strategy within the WTO.
"Since Bangladesh has previously participated primarily as part of the LDC Group, it will subsequently need to adapt its approach. Following graduation, Bangladesh would be required to focus on building strategic coalitions with other WTO Members across all levels of development," he added.
Bangladesh has been a member of the World Trade Organization (WTO) since 1995. The country is preparing for its LDC graduation in 2026, which will bring new challenges and opportunities for its trade policy, reports BSS.
The country uses the WTO system to manage trade relations with other nations and is exploring new strategies to remain competitive, such as diversifying exports and potentially joining regional agreements like the Regional Comprehensive Economic Partnership (RCEP).