Development transition from least developed country (LDC) to developing country: current progress and challenges of Bangladesh
International Journal of Development Research
Development transition from least developed country (LDC) to developing country: current progress and challenges of Bangladesh
Received 14th June, 2018; Received in revised form 17th July, 2018; Accepted 10th August, 2018; Published online 29th September, 2018
Copyright © 2018, Badiuzzaman et al. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Bangladesh has recently (2018) fulfilled the conditions for becoming a developing country from the least developed country which will be further reviewed by the United Nations Committee for Development Policy (UNCPD). If the progress become satisfactory, ECOSOC (Economic and Social Council) of UN will confirm graduation of Bangladesh as a developing country by 2024. Therefore, this study evaluates the development transition including current progresses and challenges ahead of Bangladesh for its smooth graduation by using World Bank and UN data. Bangladesh has achieved all three eligibility criteria such as GNI per capita, Human Assets Index, and Economic Vulnerability Index in 2018 for being a developing country. If graduated, Bangladesh will face some major challenges for getting preferential benefit or concessional opportunity in case of export, foreign aid and grants. Therefore, Bangladesh should focus on export diversity, bilateral relationship with the different countries for getting preferential benefit or concession towards smooth development transition.
