LDC deferment proposal gaining major support, Titumir says

Bangladesh is gaining support from major countries and trade blocs for the country’s proposed LDC graduation deferment at the 81st UN General Assembly (UNGA) session, adviser to the prime minister on the ministries of finance and planning Rashed Al Mahmud Titumir said yesterday.

The LDC group, China, and the G-77 -- which consists of 134 countries -- have agreed to support the LDC graduation deferment in informal consultation meetings at the UNGA, according to Titumir.

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Next, the countries and trade blocs that have agreed to support the deferment will formally vote in favour at a session of the 81st UNGA. Qatar has been negotiating with different countries and trade blocs to form a consensus in favour of the deferment, he told The Daily Star over the phone.

However, the adviser could not specify the date and time the proposal will be placed on the 81st session of the UNGA. However, he said the proposal will certainly be resolved in this session, which started on September 8 and will continue for two months.

Titumir claimed that Bangladesh has sought an extension of the LDC graduation preparatory period for transition from the UN, not a deferment of the LDC graduation itself.

When asked about when Bangladesh’s proposal may be placed on the session, Commerce Secretary Md Ataur Rahman Khan said he was not aware either.

However, he said that Bangladesh has left no stone unturned to secure support from other countries and regional trade blocs.

For instance, Bangladesh has sought cooperation from the European Union (EU), the UK, New Zealand, Australia, and the G-77. African and Asian nations have committed to supporting Bangladesh in the deferment pledge, the commerce secretary said.

Md Hafizur Rahman, former director general of the WTO Cell of the commerce ministry who dealt with Bangladesh’s LDC graduation affairs earlier, said the majority of present members’ votes will decide the deferral proposal.

Once passed, the Economic and Financial Committee (Second Committee) of the UNGA will formally place it before the UNGA for final approval, he said, adding that if any major country, such as the US, does not object, Bangladesh should face no trouble in getting the deferment.

Hafizur, also a former additional secretary at the commerce ministry, said the US may not object as Bangladesh has a warm relationship with the country, having signed a trade agreement and committed to purchasing aircraft, soybean products, wheat, and other goods.