Following the decision made at the 13th Ministerial Conference of the World Trade Organization (WTO), Bangladesh is slated to retain its duty benefits for an additional three years subsequent to its transition from a least developed country (LDC) to a developing nation in 2026.
During the 13th WTO Ministerial Conference in Abu Dhabi, held from February 26 to March 1, ministers from member nations reached a consensus to extend trade benefits to graduated LDCs post-graduation. As per the draft declaration of the WTO conference, Bangladesh, as a graduating LDC, will continue to receive low or zero duty benefits for its exported goods to both developing and developed economies until 2029.
The declaration further stipulates that a member country graduating from the LDC category will benefit from the application of Special Procedures Involving LDCs outlined in Article 24 of the Dispute Settlement Understanding for a period of three years following the UN General Assembly’s decision to graduate said member from the LDC category.
Moreover, graduated members will remain eligible for LDC-specific technical assistance and capacity building provided under the WTO’s technical assistance and training plan for a duration of three years after the UN General Assembly’s decision takes effect. The declaration emphasizes prioritizing the participation of existing LDCs in activities outlined within this plan.
The WTO has scheduled a review of this decision by December 2024, with the General Council tasked to report on progress to the Fourteenth Ministerial Conference, as per the organization’s announcement.
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