Bangladesh is set to implement a new five-year action plan aimed at enhancing trade capacity, improving the investment climate and strengthening competitiveness in global markets as the country prepares to graduate from the least developed country (LDC) category.
The initiative will be implemented under the Country Programme Document (CPD) prepared for the third phase of the Enhanced Integrated Framework (EIF), a World Trade Organisation (WTO)-led programme aimed at strengthening trade capacity in least developed countries (LDCs), according to a statement from the commerce ministry.
Speaking at a validation workshop on the CPD at the Ministry of Commerce on Sunday, Commerce Secretary Ataur Rahman Khan said Bangladesh’s economy is going through a critical phase as it faces both opportunities and challenges ahead of LDC graduation.
“While preparing for graduation, Bangladesh has to deal with challenges including non-tariff barriers in exports, international compliance requirements and improving the investment environment,” he said.
The commerce secretary said recommendations from previous phases of the EIF programme have been incorporated into the CPD, which includes 12 priority activities focused on enhancing trade capacity and supporting necessary reforms.
“Developing policies and research reports alone will not be enough. Effective implementation of these reforms is the key,” he said, stressing the need for clear guidelines to ensure that the benefits of reforms reach relevant ministries, departments and stakeholders at all levels.
He also highlighted the importance of trade facilitation, liberalisation, updating relevant laws and regulations, and coordinated efforts among government agencies to improve the business environment.
Additional Secretary (WTO) of the Ministry of Commerce Khadiza Nazneen said the EIF programme provides support to LDC countries to strengthen their trade capacity.
The initiative is funded by development partners, including the United Kingdom, the European Union and Sweden.
She said Bangladesh has already completed two phases of the EIF programme. The first phase ran from 2009 to 2015, while the second phase started in 2016 and ended in 2024.
The third phase is expected to begin this year based on the newly prepared Country Programme Document (CPD).
Under the five-year programme, Bangladesh will receive financial assistance to improve trade-related capacity and competitiveness.
Md Hafizur Rahman, former additional secretary and EIF consultant, said existing national policies, strategies and recommendations from previous studies were considered while preparing the CPD.
He said priorities were identified based on the Diagnostic Trade Integration Study (DTIS), export policy, industrial policy, trade policy, the Trade Facilitation Agreement and investment facilitation initiatives.
“Initially, around 52 projects were identified. Later, considering possible support from development partners and implementation capacity, these were narrowed down to 12 priority activities,” he said.
The selected areas include export capacity development, trade facilitation, investment climate improvement, institutional strengthening, training, research and the use of artificial intelligence (AI).
Additional Commerce Secretaries Ayesha Akhter (FTA) and Shibir Bichitra Barua (IIT), along with representatives from various ministries, government agencies and relevant stakeholders, attended the workshop.
Participants expressed hope that the EIF’s third phase would help Bangladesh maintain its competitiveness in international trade after LDC graduation and attract new investment.
