Bangladesh enjoy duty-free access extension until 2029 following WTO approval
Bangladesh has successfully secured an extension of duty-free market access for an additional three years beyond its expected graduation to a developing nation in 2026.
This extension was overwhelmingly endorsed by 166 members of the World Trade Organisation (WTO) during its Ministerial Conference, which concluded in Abu Dhabi on Friday night.
According to the WTO, "A member that graduates from the LDC category shall continue to be eligible for LDC-specific technical assistance and capacity-building provided under WTO's Technical Assistance and Training Plan for a period of three years after the date on which the decision of the UN General Assembly to graduate that member from the LDC category becomes effective."
The agreement on the extension of trade benefits for Least Developed Countries (LDCs) that graduate was reached after intense negotiations over a period of more than five days at the 13th WTO Ministerial Conference, held from February 26 to March 1.
Bangladesh, having joined the LDC group in 1975, is set to leave this category on November 24, 2026. The extension of duty-free market access until 2029 comes as a relief, dispelling previous uncertainties about the potential loss of 7 billion US dollar worth of trade annually following graduation. This uncertainty has now been resolved, providing stability and continuity for Bangladesh's trade benefits until 2029.
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