Bangladesh needs strong diplomatic engagement to delay LDC graduation: RAPID

The chairman of the Research and Policy Integration for Development (RAPID) Dr Mohammad Abdur Razzaque on Monday said Bangladesh needs strong diplomatic engagement to delay the LDC graduation as the country will face multiple challenges after LDC graduation without proper preparation.

He made the remarks at a seminar titled “Socio-economic priroties for the next government” at the CIRDAP Auditorium in the capital.

He highlighted that the next government’s first test will be crisis management, making it difficult for long-term vision statements. 

"Immediate challenges regarding inflation, banking stability, reserves, and LDC graduation will shape the entire term," the economist also said.

"The next government must prioritise on EU GSP + facility, 9th 5 year plan for more job creation, energy security for development in urban areas and manufacturing industries, export competitive and attract more FDI, and human resources development," he also said.

He stated that failure to act early will narrow policy space and force costlier adjustments later. 

"Structural reforms remain essential, but they will only succeed under short-term economic stability," he said.

Dr MA Razzaque said credible action in the first year can restore confidence among households, investors, and partners. 

As the chief guest of the seminar, NBR chairman Md Abdur Rahman was present while former caretaker government adviser Rasheda K Chowdhury, RAPID executive director Dr M Abu Eusuf, BKMEA president Mohammad Hatem, Bangladesh Chamber of Industries president Anwar Ul Alam Parvez, among others, were also present at the seminar.