Bangladesh needs to diversify its export products, including light engineering and pharmaceuticals, and explore new market opportunities to face challenges after its graduation from least developed country (LDC) status, said the World Bank country director for Bangladesh and Bhutan.
Abdoulaye Seck also observed that the country’s exports might experience a decline of up to 14% following its graduation. Additionally, it will lose the duty-free market access that it currently enjoys as an LDC.
The country director also mentioned that LDC graduation means more opportunities for changing the economy.
