AmCham president says
Published : 1 November 2026
•Updated : 1 November 2026, 07:36
•ECONOMY
Star Business Report
Photo: AmCham
Bangladesh should use the deferment of its graduation from the least developed country category to raise productivity and diversify exports, president of the American Chamber of Commerce in Bangladesh (AmCham) said on Friday.
In a statement, Syed Mohammad Kamal welcomed the United Nations General Assembly’s decision to defer graduation until November 24, 2029.
He said the extra three years should help shift competitiveness from one partly sustained by LDC preferences to one driven by productivity, quality, innovation and investment.
Citing recently reported estimates, the AmCham chief said about 73 percent of Bangladesh’s merchandise exports benefit from LDC-specific preferences, and exporters may encounter higher duties and more demanding rules of origin as these arrangements eventually expire, subject to each market’s transition rules.
To ease that transition, he urged Bangladesh to prepare for the European Union’s GSP+ eligibility requirements and engage Japan, the United Kingdom, Canada and ASEAN economies on trade arrangements.
As readymade garments accounted for 81 percent of merchandise exports in FY2025-26 Kamal called for diversification into pharmaceuticals, medical technology, ICT and digital services, leather goods, light engineering and agro-processing
On the domestic front, he cited IMF data showing tax revenue at 6.9 percent of GDP in FY2024-25, and pressed for broadening the tax base, improving compliance through digitalisation and strengthening banking-sector governance.
To tie these measures together, Kamal said a time-bound, measurable Smooth Transition Strategy was needed, guided by the government and informed continuously by the private sector.
He said the first year of the strategy should map sector-wise tariff and compliance exposures, the second should deliver visible improvements in customs, energy, logistics and other areas, and the third should test business readiness.
