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Bangladesh has received the final recommendation from the United Nations for the transition from a least developed country to a developing country. Certainly a matter of pride and joy. At the United Nations Development Policy Committee (CDP) meeting in New York on February 22-26, a final recommendation was made to Bangladesh to approve the LDC. Final recognition is generally granted at the UN General Assembly three years after CDP’s final recommendation.
In this regard, Bangladesh is supposed to be removed from this list in 2024, but Bangladesh has asked for 2 more years to deal with the effects of Corona. This means that after 2026, Bangladesh will no longer be on the list of least developed countries. The Prime Minister described the passage as a matter of “historical pride”; He said that the credit for this goes to the common people of this country.
The United Nations examines migration from LDCs on the basis of three indicators: per capita income, human resources, and economic and environmental fragility. According to a UN review, the per capita income for 2019 was set at ১ 1222. In that year, the per capita income of Bangladesh was $ 1,626.
And now our per capita income is $ 2,840. That is about 1.6 times the standard. In contrast to the standard 8 set in the Human Resources Index, Bangladesh’s achievement is 85.4. The criteria for passing the Economic and Environmental Fragility Index were set at 32 or less. At the time, Bangladesh’s position in this case was 26.
It goes without saying that Bangladesh is well above the lowest index of all sectors. So if all goes well, after 5 years, Bangladesh will leave the LDCs and move to Qatar, another developing country. However, in this case, some other benefits, including Bangladeshi trade, will be canceled automatically.
Export trade will be the most challenging. As a poor country, the Preferential Trading Mechanism (GSP) that used to be available in Europe and America for export will be discontinued.
It goes without saying that only by increasing its capacity will it be able to survive with the countries that compete in world trade. However, noting that there are all kinds of preparations to go ahead, the Prime Minister has identified the possible actions and said that appropriate measures will be taken, which is encouraging.
In particular, political stability was one of the reasons behind the transition from a lower-middle-income country in 2015 to the first stage to become a developing country in early 2018. It is easy to understand by this that if democracy and Had political stability been maintained in the country since independence, Bangladesh would have come a long way. The development and progress of some Asian countries that became independent near us or at the same time shows it.
It will not be difficult for us to become a developing and developed country in stages if all citizens are aware, starting with the government and other political parties in the country. To this end, there is no alternative to democracy, political stability and efficient measures for the transition of LDCs in 2026. It is desirable that everyone, including policy makers, be aware and honest about this.
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