In brief
The United Nations General Assembly approved a three‑year extension for Bangladesh’s transition out of LDC status through November 24, 2029, as reported by Xinhua. The decision follows Bangladesh’s 2018 transition plan and mirrors a similar extension given to Nepal. The extension preserves Bangladesh’s duty‑free and quota‑free export benefits in the European market, a key advantage noted by the UN.
At its 81st session of the UN General Assembly in New York on Friday, the United Nations adopted a resolution that grants Bangladesh an additional three years to prepare for its graduation from the least developed country (LDC) category, extending the deadline to November 24, 2029. The decision, reported by Xinhua, cites ongoing economic uncertainties and external shocks that have hampered the country’s progress toward meeting LDC criteria.
The extension follows Bangladesh’s 2018 transition plan, which originally scheduled the final preparatory period to conclude in late 2024 and a planned graduation on November 24, 2026. The decision gives the South Asian nation more time to strengthen its economy, improve basic services, and address persistent vulnerabilities that the UN highlighted as reasons for the delay.
Alongside Bangladesh, the Assembly also approved a similar three‑year extension for Nepal, granting both countries the same additional period until November 24, 2029. The move mirrors the earlier 2023 extension granted to Nepal and reflects the UN’s attention to the region’s development challenges.
Under the LDC designation, Bangladesh currently enjoys duty‑free and quota‑free export benefits in the European market. An upgrade to developing country status would see the nation lose these preferential treatment, a point that many officials say makes the extended window vital for protecting trade advantages, according to Xinhua.
Bangladesh’s government has formally appealed to a United Nations subsidiary body for the extension, and the General Assembly’s decision was adopted early Friday (Bangladesh time) as reported by Jagonews24 and AsianLite. The resolution aligns with the UN’s role as a platform to support vulnerable economies in their journey toward higher development.
