In the continuation of the development of Bangladesh from LDCs (LDCs) to developing countries, speculation has already begun with the challenges of the country's garment sector.
The concerned parties say that if the country is recognized as a developing country, the country's garment sector will lose the GSP facility, in this case open competition will be faced. BGMEA leaders demanded immediate action against the situation.Analysts believe that the challenge is most important for the garment industry to take up the vast majority of the country's export business.As a developing country, the United Nations will have to wait till 2024 to get formal recognition. After that, Bangladesh will get the current GSP facility for three more years. This opportunity will be no later than 2027. However, after taking action from now on, after meeting with the journalists at the Secretariat on Sunday, Commerce Minister Tofail Ahmed said that he could get GSP plus facility after 2027. At the time, the government will take all necessary measures to make GSP plus necessary. Although the European Union gave GSP plus facility to Pakistan and Sri Lanka in South Asia, India did not provide this facility.
