| dc.description.abstract | This study explores the effects of Bangladesh's upcoming exclusion from the list
of Least Developed Countries (LDCs) and how that will affect the Ready-made
Garments (RMG) sector. The graduation of Bangladesh from LDC status in 2026
will be a crucial step in the socioeconomic development of the nation and will
support its larger developmental objectives. In order to maintain the RMG
industry's growth and competitiveness in the post-LDC period, the study
evaluates the opportunities and challenges presented by this transition and
suggest ways for doing so. The introduction of the paper places Bangladesh's
historical path to graduation in a historical context and emphasizes the
socioeconomic importance of this accomplishment. Specifically focused on the
impact on trade preferences, preferential market access, and the loss of subsidy
programs, it tackles the several repercussions of losing international support
measures (ISMs) upon graduation. The study focuses on the possible risk of
preference erosion in important export markets, which could have a substantial
impact on Bangladesh's economy's RMG sector. The study uses a thorough desk
review of secondary data collected from a variety of sources, including UN
databases, trade associations, and governmental agencies. The study synthesizes
key ideas from academic literature, policy documents, and expert perspectives.
It further emphasizes the requirement for technological advancement and talent
development within the RMG industry in order to guarantee continued growth,
improved productivity, and market diversity. The study analyzes several
obstacles and suggests a number of solutions for successfully navigating the
post-LDC context. These suggestions include pursuing bilateral and multilateral
trade agreements, participating in regional trade agreements, diversifying
export goods, improving technological adoption, and promoting compliance with
international standards. The report also emphasizes how crucial it is to maintain
legislative measures for sustainable industrial development, such as the creation
of backward connection industries. The possibility for Bangladesh to turn
obstacles into opportunities and achieve long-term economic progress is
reiterated in the paper's conclusion. By using its assets, overcoming challenges,
and actively participating in different international forums, Bangladesh will
accomplish its goal of being a developed nation by 2041. The study offers a
thorough framework for tackling the various effects of LDC graduation and
assuring the long-term expansion and competitiveness of the RMG sector. | en_US |
