Bangladesh to shake off the tag of being in the club of the Least Developed Country (LDC) within this year and expects to be included in the GSP Plus criteria of the European Union.
A country can graduate to the developing world once it achieves the three indexes of the United Nations (UN)- Per Capita Income, Human Development, and Economic Vulnerability- to emerge as a developing country.
Bangladesh has already reached two of the indexes, namely, Human Development and Economic Vulnerability. By 2018, Bangladesh is expected to reach the third goal of per capita income. However, it is true that before reaching the goal, it must face some challenges.
The LDC Conference 2018 is gearing up and will be held at the headquarters of UN on 21 March. Currently, the number LDC countries are 45. Bangladesh will be promoted to the list of 56 developing countries. To achieve this, Bangladesh will highlight its achievements to the world.
Bangladesh has succeeded to surpass the threshold of 66, imposed by the UN, and scored 70 in the human development index. On the other hand, Bangladesh stands below the benchmark of 32 in economic vulnerability index and settles at 26.
However, after the transition of Bangladesh to the club of developing countries, new challenges will emerge ahead of this state. For which, the economists have advised the country to remain prepared beforehand.