Bangladesh Boosts Competition Watchdog Skills Ahead of LDC Graduation
A capacity building workshop concluded recently for members of Bangladesh's Competition Commission, following a peer review that took place amidst the Covid-19 pandemic. The review and subsequent workshop are crucial steps as Bangladesh prepares to graduate from Least Developed Country (LDC) status in 2026.
The peer review findings were presented to stakeholders on 6 March 2024 in Dhaka. Ms Elizabeth Gachuiri, UNCTAD Economic Affairs Officer, commended Bangladesh's dedication to regulating and fostering a level playing field for businesses. Minister of Commerce, Honourable Ahasanul Islam Titu, stressed the importance of the review for Bangladesh's international reputation.
Bangladesh's private sector is vital for generating decent and sustainable incomes in labour-intensive markets. With over 7 million micro, small and medium-sized enterprises (MSMEs), the country is home to a vast number of businesses that contribute significantly to its economy. The review of Bangladesh's competition policy is essential for effective competition and efficient markets, as highlighted by Mr Pradip Ranjan Chakraborty, Chairperson of the Bangladesh Competition Commission.
The capacity building workshop, held following the peer review, aims to enhance the skills and knowledge of Bangladesh Competition Commission members. This initiative, along with the review itself, is a testament to Bangladesh's commitment to fostering a competitive business environment as it looks towards its LDC graduation in 2026.
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