DHAKA, Aug 31, 2026 (BSS)- Industrial entrepreneurs have called for sector-specific and pragmatic action plans for SMEs, agriculture, pharmaceuticals and other industries to ensure Bangladesh's sustainable and smooth graduation from the Least Developed Country (LDC) category.

They stressed that merely adopting strategies would not be enough, their proper implementation and regular monitoring must also be ensured, said a press release here today.

The entrepreneurs also underscored the need for enhancing the capacity of local businesses, developing skills, promoting research and innovation, increasing technology use, ensuring access to affordable finance, improving logistics support and ensuring uninterrupted energy supply.

They made the observations at a discussion meeting organised by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) at Motijheel today to formulate strategies for greater private sector participation in reform initiatives and capacity building for LDC graduation.

FBCCI Administrator Md Fazlul Hoque chaired the meeting.

At the outset, FBCCI Secretary General Md Alomgir presented a report highlighting the challenges and prospects of Bangladesh's LDC graduation.

According to the report, Bangladesh is expected to lose duty-free market facilities, including the Generalised Scheme of Preferences (GSP) and Everything But Arms (EBA), in one of its major export destinations, Europe, following graduation. 

Intellectual property regulations are also expected to become more stringent in pharmaceuticals and other industries.

Against this backdrop, the report stressed greater private sector participation in the government's reform initiatives.

Taking part in the open discussion, private sector entrepreneurs said the benefits of LDC graduation would not be realised unless the action plans were realistic and implementable.

They suggested collecting accurate data and information from the grassroots level to identify the priority needs of different sectors.

Senior Vice President of the Dhaka Chamber of Commerce and Industry (DCCI) Rajib H Chowdhury said Bangladesh lacks sufficient negotiation capacity and called for strengthening it.

He also stressed the need to make the National Single Window fully operational to facilitate trade and business.

President of the Bangladesh Plastic Goods Manufacturers and Exporters Association Shamim Ahmed said a large portion of the country's plastic industry produces copy products, which could create intellectual property-related challenges after LDC graduation.

He called for a quick government-private sector action plan to protect the plastic, light engineering and cottage, micro, small and medium enterprises (CMSMEs) sectors.

President of Patuakhali Women Chamber of Commerce and Industry Ismat Zerin Khan urged the FBCCI to ensure that the LDC graduation strategy is not confined to industries based in Dhaka.

She called for easy-term loans, skills development and logistics support for women entrepreneurs at the grassroots level.

President of the Bangladesh Agro-Chemical Manufacturers Association (BAMA) KS M Mostafizur Rahman said Bangladesh would face major challenges over intellectual property rights after LDC graduation.

He said the pharmaceutical, agriculture and agro-chemical sectors would be among those affected and urged the government to complete registration of products manufactured in Bangladesh that are eligible for patent protection.

National Trade Expert of the Bangladesh Regional Connectivity Project-1 under the Ministry of Commerce Md Munir Chowdhury said the private sector should clearly identify its specific challenges.

He suggested forming councils involving the government and private sector and adopting result-oriented action plans to address those challenges.

FBCCI Administrator Md Fazlul Hoque urged all district chambers and sector-based associations to submit their specific proposals in writing to the FBCCI.

The proposals will be analysed and placed before policymakers, he said.

Fazlul Hoque said Bangladesh had received an additional three years and this extra time must be utilised properly.

"If we can enhance the capacity of the private sector, our competitiveness in international markets will also increase," he said, seeking cooperation from all district chambers and sector-based associations.