Bangladesh graduating by the fifth least developed countries ROUND IN doha 2021

 

Tauhid Alam

¹Consultant Economist, Economic Relations Division, Ministry of Finance and United Nations, BANGLADESH, touhidalam@hotmail.com

 

Abstract

In March 2018, Bangladesh graduated from the category of the Least Developed Country status (LDCs) since its admission in 1975.  The United Nations Committee for Development Policy (CDP) as the authority assessing the United Nations (UN) member country progress in various economic, social and development indicators, declared Bangladesh out of the LDC status as part of its recognition to the sustained progress and achievement in the set criteria attaining this landmark. This was an important milestone in the historical discourse of our country and yet a watershed in the prognosis of its development trajectory. This paper is divided in two parts. The first part illustrates a detail account of the country’s progress in various development indicators for the criteria set by the UN CDP that pulled us out from the LDC status. It requires explaining the link between the LDC graduation and the structural transformation as articulated in LDC IV Istanbul Programme of Action (IPoA). The second part detailed out the various dimension of IPoA implemented in Bangladesh in a sustained manner and contends the contribution made by these pillars to the LDC graduation and its current middle income transition and structural transformation under the broader framework of Istanbul PoA.

Bangladesh was declared as a graduate from UN LDC category in the UN CDP triennial review in 2018 after meeting three major graduation criteria: Gross National Income (GNI) per capita greater than US $ 1265, Human Asset Index (HAI) greater than 66 and Economic Vulnerability Index (EVI) less than 32. As the UN LDC IV Istanbul programme of Action (IPoA) comes to its terminal year in 2020, the national government has taken a stock of its implementation and how it will contribute to Bangladesh’s graduation from LDC category beyond 2021 when LDC V conference take place in Doha in 2021. The Implementation of the Istanbul PoA in its national developmental plans and programme has contributed to the gradation from the LDC category and maintain graduation with momentum. What, however is required is smooth transition to post LDC period along with desired structural transformation. It is equally important to examine the prognosis of its growth and development trajectory as Bangladesh enters into middle income category and how it adjust itself against Post LDC challenges amidst 4th industrial revolution and new development cooperation environment.