Be prepared to face challenges of LDC graduation: Tipu Munshi

Commerce Minister Tipu Munshi has urged the country’s business community to be prepared to face the challenges Bangladesh will face after graduating from its Least Developed Country (LDC) status.

“The government is working to address these challenges by forming sector-based sub-committees with representatives of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI),” he said while addressing a 45-member delegation from the newly-elected FBCCI council, led by its President Jasim Uddin, at the Secretariat in Dhaka on Monday.

Mentioning that the government has been working to sign Free Trade Agreements (FTAs) and Preferential Trade Agreements (PTAs) with different countries to increase trade facilities, the minister also urged the apex trade body to go beyond their conventional activities and play a vital role in modernising the country’s trade sector, said a press release.

He said the country’s ICT sector, leather, plastics, jute and jute products have huge potential for export, which should be utilised properly.

"We want to export goods worth $50 billion in the next fiscal year. Therefore, the country's exporters must come forward with sincerity in this regard,” he said.

During the meeting, FBCCI President Jasim welcomed the recently proposed budget and assured the government of their cooperation in achieving LDC graduation and meet the Sustainable Development Goals.