Foreword
The current global economic and political landscape is marked by turbulence, complexity, and rapid change. Governments, businesses and societies are striving to comprehend the ongoing technological, digital, and industrial reorganisation processes and their profound potential impacts on the economy and society. In a time where it is evident that growth is a necessary but not sufficient condition for development, and incentives are required to ensure inclusive and sustainable growth, the planning and execution of strategies for economic transformation are of paramount importance.
The Production Transformation Policy Reviews (PTPRs) serve as a vital OECD policy assessment and guidance tool, aiding policy makers in crafting and implementing improved strategies for economic transformation. These reviews are enriched by international peer dialogues and discussions under the OECD Initiative for Policy Dialogue on Global Value Chains, Production Transformation, and Development. Adding perspective to the OECD Development Pathways Series, the PTPRs shed light on economic transformation and governance for change.
The PTPR of Bangladesh represents the first assessment carried out in a Least Developed Country (LDC), at the behest of the Ministry of Commerce and with financial support from the European Commission. Co-authored with the United Nations Conference on Trade and Development (UNCTAD), it benefits from close co-operation with the United Nations Committee for Development Policy (CDP), UNDESA, and the UN Technology Bank for the LDCs.
The PTPR of Bangladesh included an extensive process of consultation with multiple stakeholders in Bangladesh and abroad. It also involved the participation of several representatives of countries, the private sector and international organisations in a Peer Learning Group that steers each PTPR process.
Half a century after independence, Bangladesh has achieved impressive progress. The country has transformed from one of the poorest nations into a global textile manufacturing hub and country that is capable of meeting its medical needs almost entirely through domestic pharmaceutical production. The country will graduate from the LDC category in 2026 and aspires to be a high-income nation through industrialisation by 2041. Meeting this challenge requires accelerating economic transformation through diversification and innovation. It calls for leveraging digitalisation to address persistent fragilities and it advocates for a new pact based on shared responsibilities between the national government, the private sector and international partners to shift to a new development phase and ensure a sustainable, smooth and irreversible graduation.