DHAKA, March 21, 2018 (BSS) – Foreign Affairs Minister Abul Hassan Mahmood Ali today said Bangladesh will overcome the next stage of development as well as continue to go forward.
“Bangladesh is one of two countries which attained all the three criteria – Gross National Income (GNI), Human Asset Index (HAI) and Economic Vulnerability Index (EVI) — for graduating from the Least Developed Countries (LDCs). I think the country will overcome the next stage of development as well continue to go forward as we are on the right track under the dynamic leadership of Prime Minister Sheikh Hasina,” he said.
The minister was addressing the inaugural function of a seminar titled ‘Bangladesh’s Graduation from LDCs: Opportunities, Challenges and Imperatives’ at Bangladesh Institute of International and Strategic Studies (BIISS) in the city. BIISS organized the seminar in collaboration with the Ministry of Foreign Affairs.
Speaking about the challenges that Bangladesh would have to face in future due to its graduation from the LDCs, Mahmood said the country would lose about USD 2.7 billion on its total exports as additional tariff on the exports will be imposed by 6.7 per cent.
And referring to different achievements, including in health and education sectors, of the country he said “I think we will be able to overcome the next step of development as the country is marching ahead under the leadership of Father of the Nation Bangabandhu Sheikh Mujibur Rahman’s daughter Sheikh Hasina”.
Presided over by Chairman of BIISS Board of Governors Ambassador Munshi Faiz Ahmad, the inaugural function was addressed by Under-Secretary General of the UN and the High Representative of UN-OHRLLS Fekitamoeloa Katoa ‘Utoikamanu as the special guest.
BIISS Director General Major General AKM Abdur Rahman and WFP Country Director and UN Resident Coordinator in Bangladesh Christa Rader delivered welcome speech in the function.
Earlier, a documentary congratulating Prime Minister Sheikh Hasina was screened in the function for the great achievement.
Later, Distinguished Fellow of Center for Policy Dialogue (CPD) Professor Mustafizur Rahman delivered a keynote paper on the topic in the working session with Foreign Affairs Secretary Md Shahidul Haque in the chair.
In his keynote paper, Professor Mustafiz said Bangladesh is going to lose some opportunities like duty-free market access for all products in all developed countries except for the apparel exports to the United States (US) and the opportunity of getting loans in low interest rate due to its graduation from LDCs.
“But we think that the country will be able to face the challenges that will come ahead due to its graduation from LDCs as it is now standing on a strong economic foundation,” he added.
Executive Director of Policy Research Institute of Bangladesh Dr Ahsan M Mansur, BIISS acting Research Director Dr Mahfuz Kabir, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Md Shafiul Islam and Head of Delegation of the European Union to Bangladesh Rensje Teerink addressed the working session.