Bangladesh to graduate from LDC status in March: Tofail

[EastBengalPro]

Bangladesh will graduate as a developing country from the status of a least developed country (LDC) in March.

A senior minister of the government came up with the assertion in Dhaka on Sunday after emerging from a meeting with a former World Trade Organisation (WTO) chief.

"Our country has already complied with the three criteria to become a developing country," said Commerce Minister Tofail Ahmed.

Earlier, he held a views-exchange meeting with WTO's former director general (DG) Pascal Lamy at the secretariat.

The commerce minister also hoped that the United Nations Economic and Social Council (ECOSOC) will announce Bangladesh's graduation from the LDCs in its next evaluation meeting in March.

"So, Bangladesh will be turned into a developing nation in 2021 when the country will celebrate its 50 years of independence," he added.

A country has to comply with the criteria -- per capita income, human assets index and economic vulnerability index of ECOSOC to become a developing nation.

BSS says per capita income of Bangladesh rose to $ 1,610 while human assets 70 per cent and economic vulnerability 26 per cent.

Mentioning that the European Union (EU) has been providing Bangladesh GSP facilities under every things but arms, as the member of LDCs, Tofail expected that after the graduation they (EU) will offer GSP plus facility.

He also sought cooperation of Pascal Lamy in the process.

Commerce Secretary Shubhashish Bose, WTO cell Director General Munir Chowdhury and Additional Secretary (Export-II) Tapan Kanti Ghosh were present.

https://thefinancialexpress.com.bd/...te-from-ldc-status-in-march-tofail-1515334846

 

[EastBengalPro]

In Sha Allah!

 

[BDforever]

Bangladesh will graduate as a developing country from the status of a least developed country (LDC) in March.

A senior minister of the government came up with the assertion in Dhaka on Sunday after emerging from a meeting with a former World Trade Organisation (WTO) chief.

"Our country has already complied with the three criteria to become a developing country," said Commerce Minister Tofail Ahmed.

Earlier, he held a views-exchange meeting with WTO's former director general (DG) Pascal Lamy at the secretariat.

The commerce minister also hoped that the United Nations Economic and Social Council (ECOSOC) will announce Bangladesh's graduation from the LDCs in its next evaluation meeting in March.

"So, Bangladesh will be turned into a developing nation in 2021 when the country will celebrate its 50 years of independence," he added.

A country has to comply with the criteria -- per capita income, human assets index and economic vulnerability index of ECOSOC to become a developing nation.

BSS says per capita income of Bangladesh rose to $ 1,610 while human assets 70 per cent and economic vulnerability 26 per cent.

Mentioning that the European Union (EU) has been providing Bangladesh GSP facilities under every things but arms, as the member of LDCs, Tofail expected that after the graduation they (EU) will offer GSP plus facility.

He also sought cooperation of Pascal Lamy in the process.

Commerce Secretary Shubhashish Bose, WTO cell Director General Munir Chowdhury and Additional Secretary (Export-II) Tapan Kanti Ghosh were present.

https://thefinancialexpress.com.bd/...te-from-ldc-status-in-march-tofail-1515334846

I saw the news few days ago but wanted to post in march

 

[EastBengalPro]

I saw the news few days ago but wanted to post in march

 

[MultaniGuy]

Mash'Allah, congratulations.

 

[bluesky]

Professor Rostow, an eminent economic historian and a specialist on economic development, has divided the historical process of economic growth into five stages:

(1) The traditional society;
(2) Pre-conditions for take-off;
(3) The ‘take-off;
(4) The drive to maturity; and
(5) The age of high mass consumption.

I think, BD will remain in the stage of 1) Traditional Society even after its graduation from an LDC status. Now, what economic criteria are for this traditional society?

(1) The Traditional Society:

In a traditional society, modern science and technology are either not available or are not being systematically applied. However, there may be ad hoc application of innovations. Production can also increase due to increase in acreage.

Domestic and foreign trade can change in composition. But the distinguishing feature of the traditional society is that there exists a ceiling to the level of the attainable per capita output. A large proportion of productive resources are devoted to agriculture.
--------------------------------------------------------------------------------------------------------------------------

** By observing the backward society of BD where people believe more in superstitions, gossips, explanation of night dreams, expects interference of Divine power etc. rather than thinking logically puts BD in a traditional society whereby there are very little inclination to learn and apply science and technology. I, for one, do not believe that the BD society any time soon will come out of this traditional thinking. So, it can be said that the country will remain stuck to its past/present traditional form with a little tendency to overcome it. The institution of government alone cannot change the country.

Even India still remains in a a developing stage without much introduction of technology to its traditional society because India is unable to tear away from the thinking of a five millennium old traditional society.

-bluesky-

 

[shootingstar]

I do not understand why people are celebrating.

Moving to LDC to Developing country status means Bangladesh can no longer can avail the preferential market access to the US, Canada, EU, Japan etc. for its garments industry and now has to compete with the others.

 

[bluesky]

I do not understand why people are celebrating.

Moving to LDC to Developing country status means Bangladesh can no longer can avail the preferential market access to the US, Canada, EU, Japan etc. for its garments industry and now has to compete with the others.

But, how long the country should sleep on the lap of preferential treatment by the rich countries? Better, BD promotes itself to the status of a developing country and strive hard to develop itself with the introduction of good governance, good taxation system, science and technology etc. Only a change in many things will may cause BD to improve its living standard.

However, I see very little prospect that BD population will ever overcome its present thinking that keeps a stagnant, traditional and superstitious society intact in BD. So, BD economy will grow a little further, but will stay there unless its population is willing to discard traditional thinking in favor of modernization. However, I wonder if a Muslim society is able to change mind.

 

[BitHeroBD]

However, I wonder if a Muslim society is able to change mind.

I think of that too. but then I think of Turkey.

 

[TopCat]

But, how long the country should sleep on the lap of preferential treatment by the rich countries? Better, BD promotes itself to the status of a developing country and strive hard to develop itself with the introduction of good governance, good taxation system, science and technology etc. Only a change in many things will may cause BD to improve its living standard.

However, I see very little prospect that BD population will ever overcome its present thinking that keeps a stagnant, traditional and superstitious society intact in BD. So, BD economy will grow a little further, but will stay there unless its population is willing to discard traditional thinking in favor of modernization. However, I wonder if a Muslim society is able to change mind.

Education change 90% of what you are saying. Muslim or no muslim

 

[bluesky]

I think of that too. but then I think of Turkey.

Turkic people may have a little different mindset than other Muslim countries. But, Turkey was an European power that controlled much of eastern and southern Europe. But, even with its history, its close proximity to the main European culture and its intermingling with other people of Europe, Turkey still remains a developing country although its development was initiated about 100 years ago during the time of Kamal Ataturk. Still now, its young people go to Europe to seek jobs.

If Turkey is in such a condition I am perplexed how the ingredients of new thinking will enter BD. Think of it that during the 190 years of mingling with England, we have finally learned only how to wear pants and shirts. However, many people choose traditional wears that inhibits them to do work properly.

Muslim countries should rethink the causes of their downgrading comparison to non-Muslim countries. I become a Munafiq when I say this. So, I ask how some people think, proliferation of education will change and upgrade our thinking, when about 60% of BD people are already regarded as literate by our govt.

 

[Roybot]

Good job LDCians. Will have to coin a new name for you guys now

 

[Homo Sapiens]

Turkic people may have a little different mindset than other Muslim countries. But, Turkey was an European power that controlled much of eastern and southern Europe. But, even with its history, its close proximity to the main European culture and its intermingling with other people of Europe, Turkey still remains a developing country although its development was initiated about 100 years ago during the time of Kamal Ataturk. Still now, its young people go to Europe to seek jobs.

If Turkey is in such a condition I am perplexed how the ingredients of new thinking will enter BD. Think of it that during the 190 years of mingling with England, we have finally learned only how to wear pants and shirts. However, many people choose traditional wears that inhibits them to do work properly.

Muslim countries should rethink the causes of their downgrading comparison to non-Muslim countries. I become a Munafiq when I say this. So, I ask how some people think, proliferation of education will change and upgrade our thinking, when about 60% of BD people are regarded as literate by our govt.

Turkey is now a developed country.Their per capita income(ppp) now stand around 27,000 US dollar, not much behind than established developed country like Italy or Spain.They have a huge industrial sector.Turkey in every way a modern, industrialized country now.And it have done it without ditching it's Islamic tradition.So is Malaysia and some other muslim countries.USA is a conservative Christian country, still one of the top developed country in world.In today's world, religion is not much a drag of development.With right policy from govt. any country can march towards development at different speed.With marching along the developmental path, traditional values will undergo positive transformation.In today's Bangladesh, almost no one have any objection to female education, but this was not the case in 100 years ago.We are let in progress, but improving steadily.

The highly developed, scientific minded population you are talking about, they have acquired it very slowly over 500 years.Just 300 years ago, these people burned women at stake for witchcraft.Just 150 years ago, no non-Protestant Christian could live in today's highly liberal Norway or Sweden. Forget about any Muslim or Hindu setting foot there.Just 70-80 years ago, scientific racism was rife in western countries and Germany gone to extreme length to wipe out ''inferior'' races.Homosexual relation was a criminal offense up to 1970s in all western countries.So, do not fret about their current values and lack of ours.

 

[bluesky]

Turkey is now a developed country.Their per capita income(ppp) now stand around 27,000 US dollar, not much behind than established developed country like Italy or Spain.

No, it is only around 14,000 dollar per capita. It is after hundreds of years of development. Even the modern development started since the time of Kamal Ataturk. Religion plays a drag to any Muslim society. Please do not compare the Muslim countries with the Christian ones. USA and other Christian countries are not fundamentalist countries like all the Muslim countries.

For example, Muslims have to believe that earthquake is a punishment to men for doing bad things. There are millions of superstitions written in the old books, and the Muslims love to believe them to secure places in a non-seen Paradise although science says something different about earthquakes. Do the Christians believe in these superstitions and keep on talking about Paradise and Hell all throughout their days like the Muslims do? So, there is a fundamental difference in outlook between the two or three groups.

Malaysia is developing a little only because of the hard-working Chinese enterpreneurship and not because of the Malay Muslims. During my stay there long time ago I found them believing in superstitions more like BD people.

Anyway, it is a reality that the Muslim countries are backward, but, no one really knows why they remain so and have to beg to the Christian and Buddhist countries for survival?

Turkey GDP per capita
The GDP per capita is obtained by dividing the country’s gross domestic product, adjusted by inflation, by the total population. This page provides the latest reported value for - Turkey GDP per capita - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Turkey GDP per capita - actual data, historical chart and calendar of releases - was last updated on January of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
14071.17 13894.60 14071.17 3134.68 1960 - 2016 USD Yearly

 

[Homo Sapiens]

No, it is only around 14,000 dollar per capita. It is after hundreds of years of development

14,000 dollar per capita at market exchange rate and 27,000 dollar per capita at purchasing power parity .As a recently developed country it's currency is still very much under valued compared to USD.Over time Turkish currency will strengthen against US dollar and there will be little per capita gap between market exchange rate and purchasing power parity.Per capita in purchasing power parity reflect the actual living standard of a country.So, it is a more useful tool to measure whether a country is developed or not.By this method, Japan's per capita GDP is 43,000 US dollar and Turkey's 27,000 US dollar. So an average Turks has a living standard 2/3 of an average Japanese.
http://www.imf.org/external/pubs/ft/weo/2017/02/weodata/weorept.aspx?pr.x=38&pr.y=19&sy=2018&ey=2018&scsm=1&ssd=1&sort=country&ds=.&br=1&c=186,158&s=PPPGDP,PPPPC&grp=0&a=

For example, Muslims have to believe that earthquake is a punishment to men for doing bad things. There are millions of superstitions written in the old books, and the Muslims love to believe them to secure places in a non-seen Paradise although science says something different about earthquakes. Do the Christians believe in these superstitions and keep on talking about Paradise and Hell all throughout their days like the Muslims do? So, there is a fundamental difference in outlook between the two or three groups.

What some uneducated molla believe about earth quake doesn't affect vast majority of muslim country's advance.It could have been a source of significant concern if any muslim govt. withhold earthquake relief effort with the believe that, earthquake victims deserves that.Have you even seen any muslim govt. work that way? Do not give example of Taliban or ISIS.They were terrorist regime no better than Khmer Rouge. They do not represent global muslims.And this type of thinking also held by believer Christians, they believe in original sin, poor people are blessed by God, It is harder for a rich man to enter paradise than passing a camel through a needle hole.This is said in New Testament.But their believe has very little effect on how they live in this world or how their govt. function.

Anyway, it is a reality that the Muslim countries are backward, but, no one really knows why they remain so and have to beg to the Christian and Buddhist countries for survival?

You are talking extreme.Most of the muslim countries are rich or middle income group.You have to take into consideration that , most of the muslim countries have come out of colonial rule in the last 50 years.So their economic development will not be like that of countries which are enjoying economic growth for several centuries and had unlimited access to the world resources through their worldwide colonial empire.Not all Christian and buddhist country are successful yet.Most of the Sub-Saharan african and poor Latin American countries are Christian.As well as, there are Buddhist countries like Myanmar, Laos, Cambodia, Bhutan. Religion, Islam or others has not much role to determine a country's development.