The World Trade Organization’s (WTO) recent decision to extend LDC-linked trade benefits for graduating least-developed countries, including Bangladesh, has been welcomed by experts. Bangladesh was set to graduate from its least-developed country (LDC) status in 2026, and this would have led to a significant reduction in trade preferences.
However, the WTO’s decision will allow Bangladesh to continue enjoying duty-free benefits for several years after 2026. This extension will help Bangladesh avoid potential export losses and attract much-needed investments. The textile and clothing sector, which accounts for a significant portion of Bangladesh’s exports, would have been particularly affected by the loss of trade preferences. The decision is expected to benefit various sectors of Bangladesh’s economy, including pharmaceuticals and frozen foods, and support its goal of achieving $100 billion in shipments by 2030. Some countries, like the UK and Australia, have already committed to continuing trade benefits for Bangladesh post-2026.
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