Bangladesh’s new Commerce Minister Khondaker Abdul Muktadir announced that the government will take steps to defer the country’s graduation from Least Developed Country (LDC) status. Speaking to reporters at the Secretariat on February 18, he said all necessary actions will be taken to pursue the deferral and coordination has already begun between the Ministry of Commerce and the Economic Relations Division (ERD). He emphasized that the government has started working on the issue immediately, even though there is no formal deadline for submitting a request.

Muktadir noted that business organizations have long demanded a delay in LDC graduation, and the government is giving the matter top priority. He also discussed the country’s narrow export base, with about 85 percent of exports dependent on a single product, and stressed the need for diversification and new market expansion. On domestic issues, he assured that essential goods are adequately stocked for Ramadan and that temporary price hikes are due to short-term demand surges.

The minister further highlighted that stable conditions are essential for investment and warned that prolonged stagnation could pose risks to employment and the economy.