DHAKA, Oct. 30 (Xinhua) -- The United Nations General Assembly (UNGA) has adopted a resolution granting Bangladesh three additional years until Nov. 24, 2029, to prepare for graduation from the least developed country (LDC) category, recognizing economic uncertainties, external shocks and persistent vulnerabilities.
The decision was adopted early Friday (Bangladesh time) at the 81st session of the UNGA in New York after the Bangladeshi government had earlier formally appealed to a subsidiary body of the United Nations.
Bangladesh's transition process began in 2018, with the final preparation period originally set to end in 2024.
Under the previous schedule, the South Asian country was due to exit the LDC list on Nov. 24, 2026.
The 81st session also approved Nepal's request for a three-year extension of its preparatory period. As LDCs, Bangladesh and Nepal enjoy duty-free and quota-free benefits in the European export market, which they would lose after upgrading to developing country status. ■
