Photo : Collected

DHAKA, Oct 25, 2025 (BSS) - At Bangladesh's initiative, the recently adopted Geneva Consensus at UNCTAD16 included a crucial provision urging continued international support for graduating Least Developed Countries (LDCs) to ensure their smooth and sustainable transition beyond graduation.

The Geneva Consensus, adopted at the conclusion of UNCTAD16 on October 23 at the Palais des Nations, mandated UNCTAD to create a Special Graduating Support Programme for graduating LDCs, according to a press release issued by the Permanent Mission of Bangladesh in Geneva, received here today.

The Bangladesh mission played an instrumental role in shaping the final text through extensive rounds of negotiation and coordination as a member of both the G77 & China Group and the LDC Group.

The inclusion of this provision reflects Bangladesh's strong advocacy for the continuation of targeted support measures for LDCs after graduation to safeguard development gains and prevent economic setbacks, said the release.

The conference, held from October 20-23, 2025, was hosted jointly by Switzerland and UNCTAD. It brought together ministers, heads of international organizations, private sector leaders, and civil society representatives under the theme "Shaping the future: Driving economic transformation for equitable, inclusive and sustainable development."

The Geneva Consensus, adopted at the closing session, sets UNCTAD's work priorities for the next four years.

During the high-level discussions, Bangladesh underscored the importance of reforming the international financial architecture to better respond to financing gaps, debt vulnerabilities, and the growing development challenges facing LDCs and developing countries.

The Bangladesh mission also contributed to strengthening key outcomes on issues such as technology transfer, enhancement of productive capacities, foreign direct investment, bridging the digital divide, and addressing climate change challenges.

A Bangladesh delegation led by Commerce Secretary Mahbubur Rahman attended the conference and participated in the general debate, ministerial meetings, roundtables, and panel discussions. On the sidelines, he held bilateral meetings with UNCTAD Secretary-General Rebecca Grynspan and OHRLLS High Representative and UN Under-Secretary-General Rabab Fatima, among others.