Commerce Minister Khandakar Abdul Muktadir has warned that Bangladesh could face a potential export loss of around $17.5 billion following its graduation from the Least Developed Country (LDC) category due to the withdrawal of preferential market access in developed economies.
Speaking in Parliament on the recent session, the minister said the government has already taken steps to address the challenge through trade diversification and bilateral agreements. Bangladesh has signed an Economic Partnership Agreement (EPA) with Japan and is negotiating a Comprehensive Economic Partnership Agreement (CEPA) with South Korea.
The government is also pursuing trade agreements with the European Union, China, the UAE, Singapore, Indonesia and other key markets to maintain export competitiveness after LDC graduation.
Mr. Muktadir noted that Bangladesh’s trade deficit widened to $24.16 billion in FY2024-25, while exports reached $55.19 billion against imports of $79.35 billion. He emphasized the need to diversify exports beyond the ready-made garment sector, which still accounts for 84% of the country’s export earnings.
The minister said various incentives and policy support measures have been introduced for emerging export sectors, alongside efforts to explore new markets in Africa, Latin America and the CIS region.
