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On Friday, the UN Development Policy Committee or UN-CDP made a final recommendation to move Bangladesh from the list of least developed countries to developing countries.
According to UN rules, if a country can meet the criteria to pass two consecutive triennial reviews, it gets the final recommendation to cross from the least developed country. Bangladesh has met the criteria for the second time.
In this regard, KAS Murshid told bdnews24.com on Saturday that the question of market advantage comes first in the transition to developing countries. If Bangladesh will be able to maintain market facilities abroad. Although there are great concerns about the export of ready-made garments, their scope needs to be further expanded.
“I don’t think RMG is our only driving force. We have many more but promising sectors. Exporters in Bangladesh have the ability to overcome temporary market problems. With this, the government will definitely provide the political support that is needed. “
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As a result, Bangladesh’s status in the world has increased one step, which will further facilitate the way to obtain foreign investment. On the other hand, duty-free access to the world market, the imposition of import duties on various products and some other opportunities should be gradually abandoned.
As a result of approval, various benefits will be automatically revoked; On the other hand, economists have been saying that your benefits must be achieved through work.
KAS Murshid said: “I think our private sector is very confident. I don’t think they are too upset. The pharmaceutical sector said that the textile sector said it has moved to a much stronger place. This journey must continue. There is nothing to fear if you can do it.
“To benefit developing countries, we must continue to develop the infrastructure we need. We have to develop the skills of the country’s people. The issue of efficiency must be taken very seriously.”
But he stressed human resource development and technological advancement so that Bangladesh does not fall into the ‘middle income trap’.
The Director General of BIDS said: “Without good governance, we may have come a long way. But if we think that we can go on like this forever, without good governance, it will be wrong.
He said that to ensure good governance, frustrated regulators must reform over time. And if this work is not done vigorously, there is danger ahead.
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