ST. JOHN'S, Antigua and Barbuda — Bangladesh's Acting Foreign Minister Humaiun Kobir has urged developed Commonwealth countries to continue preferential trade treatment for member states graduating from least developed country status, saying continued access is essential to a smooth socioeconomic transition. Kobir made the call while addressing the Executive Session of the 28th Commonwealth Heads of Government Meeting (CHOGM) in St John's on 3 November, according to a Foreign Ministry press release issued on 4 November. He led the Bangladesh delegation at the summit in Antigua and Barbuda, which runs from 1 to 4 November. Stressing the needs of countries moving from LDC to developing-country status, Kobir said preferential access to intra-Commonwealth trade must be maintained to support uninterrupted supply chains and continued commerce among member nations. The acting foreign minister called for concerted efforts to tap the Commonwealth's vast trade potential and to remove obstacles hindering trade between member states. The executive session, held at the American University of Antigua Conference Centre, brought together heads of government, foreign ministers and delegation leaders from the Commonwealth's 56 member states. Commonwealth leaders also proposed deeper cooperation in trade, investment and private sector financing, alongside greater coherence in the international monetary, financial and trading systems. Leaders further proposed stronger climate finance partnerships and greater support for youth skills development and entrepreneurship. Kobir was accorded full cabinet ministerial status to lead the Bangladesh delegation and discharge the responsibilities of the foreign minister during the CHOGM.
Why it matters
Because Bangladesh is itself transitioning out of LDC status, continued preferential Commonwealth market access directly affects its trade, investment and economic prospects.