Bangladesh to move out of LDC

We are happy with the comment by the commerce minister that Bangladesh has fulfilled the condition to move out of the list of Least Developed Countries (LDC’s). Reportedly, the three main criteria have been met which features per capita income of $1610, human asset at 70 and economic vulnerability at 26 percent respectively.  The declaration of elevation of status to 'Developing Nation' is likely to be declared in March next.

These signs are hope inducing because Bangladesh began her journey as a war ravaged state, the economy crippled, infrastructure devastated and the masses facing political plus natural disasters. As the country stands at the brink of a historic moment, it’s natural for some emotion to seep in because the tale of Bangladesh has been that of unyielding tenacity in the face of countless challenges. These ranged from struggling economy to high unemployment to periods marked by political instability. Yet, the country moved on, overcoming one crisis after another.

Today, this country, once regarded with derision by many, has made remarkable progress in health, education and overall growth. Bangladesh is placed on the world map with her awe inspiring textile industry plus a diaspora population sending in regular remittance which has given us a robust foreign currency reserve. This Bangladesh still has many other obstacles to overcome but as the country has left the image of dire poverty and destitution behind, one can look forward with optimism. This country aspires to attain middle income status by 2021, the 50th year of her independence, and from the current state of affairs, attaining that goal seems possible.

Reportedly the European Union will still maintain the GSP facility despite the improvement of status which we find to be truly gratifying. Lauding the progress, we feel that the country now needs to tackle some social evils like addiction, venality and nepotism in order to add more transparency. No country in the world is perfect with each one facing problems of their own; for Bangladesh, once the complications were insurmountable. From the common sentiment that ‘foreign made goods are the best’ this country now has a belief that local made products can be better. If this conviction is applied to deal with inner problems, the 50 year celebration will become even more potent. This country has disproved the denigrating epithet of the ‘bottomless basket’; in fact, today Bangladesh can firmly say: this is no basket at all!

Bangladesh to move out of LDC

We are happy with the comment by the commerce minister that Bangladesh has fulfilled the condition to move out of the list of Least Developed Countries (LDCs). Reportedly, the three main criteria have been met which features per capita income of $1610, human asset at 70 and economic vulnerability at 26 percent respectively. The declaration of elevation of status to Developing Nation is likely to be declared in March next. These signs are hope inducing because Bangladesh began her journey as a war ravaged state, the economy crippled, infrastructure devastated and the masses facing political plus natural disasters. As the country stands at the brink of a historic moment, its natural for some emotion to seep in because the tale of Bangladesh has been that of unyielding tenacity in the face of countless challenges. These ranged from struggling economy to high unemployment to periods marked by political instability. Yet, the country moved on, overcoming one crisis after another. Today, this country, once regarded with derision by many, has made remarkable progress in health, education and overall growth. Bangladesh is placed on the world map with her awe inspiring textile industry plus a diaspora population sending in regular remittance which has given us a robust foreign currency reserve. This Bangladesh still has many other obstacles to overcome but as the country has left the image of dire poverty and destitution behind, one can look forward with optimism. This country aspires to attain middle income status by 2021, the 50th year of her independence, and from the current state of affairs, attaining that goal seems possible. Reportedly the European Union will still maintain the GSP facility despite the improvement of status which we find to be truly gratifying. Lauding the progress, we feel that the country now needs to tackle some social evils like addiction, venality and nepotism in order to add more transparency. No country in the world is perfect with each one facing problems of their own; for Bangladesh, once the complications were insurmountable. From the common sentiment that foreign made goods are the best this country now has a belief that local made products can be better. If this conviction is applied to deal with inner problems, the 50 year celebration will become even more potent. This country has disproved the denigrating epithet of the bottomless basket; in fact, today Bangladesh can firmly say: this is no basket at all!