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Editorial

LDCs seek their dues, not charity

They need sustained support to double their share of global trade


Bangladeshpost
Published : 06 Mar 2023 08:18 PM

While addressing opening plenary meeting of the 5th United Nations Conference on Least Developed Countries (LDSCs) at the Qatar National Convention Centre in Doha, Prime Minister Sheikh Hasina said the LDCs want its dues, not charity under international commitments for their real structural transformation. In the conference, the premier also sought global supports for Bangladesh’s smooth LDC graduation. 

The Doha Programme of Action is yet another assurance of hope for the world’s most vulnerable countries. The international community must renew its commitment for real structural transformation in LDCs.

For graduating LDCs there should be some incentives for their performance. They should enjoy the international support measures for LDCs for an extended period of time. They need enhanced investments and know-how to build their productive capacities. Bangladesh wants to make sure that no challenges can further slow down its graduation momentum. Graduating countries like Bangladesh are making all possible efforts to mitigate such challenges by developing their domestic capacity and enhancing competitiveness.  

Bangladesh wants to make 

sure that no challenges can further

 slow down its graduation momentum

The country is focusing on increasing its productive capacity, accelerating structural transformation, developing human capital, boosting the private sector, investing in institution building, digitalising utility services, and ensuring equity for our growth dividends. Therefore, LDCs will keep their side of the bargain and they do not ask for charity; what they seek are their dues under international commitments for their real structural transformation.

The pandemic and then the Russia-Ukraine war have dealt a major blow to LDC economies. The rise in food and fuel price in international markets has caused inflations in most LDCs. Besides, Bangladesh is dealing with 1.2 million forcibly displaced Rohingyas from Myanmar with no immediate solution. Bangladesh is the only LDC among the world’s 50 largest economies in terms of GDP. Bangladesh now looks forward to graduating in 2026. The country’s march towards graduation is also marked by its efforts at just, inclusive and sustainable development. We believe the global partnership will do the best for the LDCs.