Momen urges ISMs for LDG graduating countries

Foreign Minister Dr AK Abdul Momen has urged for continuation of LDC-specific ‘international support measures (ISMs)’ for the countries including Bangladesh those have been graduating from Least Developed Country (LDC) status.

He made the urge while holding a meeting with World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala at her office in Geneva on Tuesday, according to a message received here Wednesday.   

During the meeting, Dr Momen also urged for the continuation of exemptions available under the WTO rules and provisions for the LDCs after graduation.

The foreign minister highlighted Bangladesh’s impressive development trajectory under the visionary leadership of Prime Minister Sheikh Hasina that has enabled the country to be eligible for graduation from the LDC category in 2026.

Dr Momen expressed concerns over possible negative impacts on the development momentum of the graduated countries if they lose the international support measures (ISMs).

He expressed satisfaction for the TRIPS Council’s recent decision to allow the LDCs with exemption period until 01 July 2034 under TRIPS Article 66.1.

Referring to LDC group’s submission in the WTO for extension of LDC-specific ISMs, Dr. Momen expressed hope for a favourable decision in the upcoming 12th Ministerial Conference to be held in November in Geneva.

Later, the foreign minister also held a meeting with Director-General of ILO Guy Ryder.

During the meeting, Dr Momen highlighted the incremental progress that Bangladesh has made in the RMG sector which was duly recognized and appreciated by the ILO DG.

Terming Prime Minister Sheikh Hasina as the “Friend of Workers”, the foreign minister emphasized on the initiatives taken by the Bangladesh government during the pandemic for the welfare and protection of the RMG sector workers.

He said no garment factory worker was terminated from service during Covid-19 pandemic in Bangladesh due to different stimulus packages and initiatives undertaken by the Government.

Dr. Momen is on a 3-day visit in Geneva to participate in the Asia-Pacific Regional Review Meeting of the LDCs, convened jointly by the Government of Bangladesh, UN-OHRLLS, and UN-ESCAP at the UN Headquarters in Geneva in preparation for the Fifth UN Conference on the Least Developed Countries (UNLDC-5).