NEW YORK, 5 March, 2021 (TON): America’s Wall Street Journal (WSJ) has acclaimed the Bangladesh for burgeoning economically, in the wake of its graduation from the UN’s LDCs (Least Developed Countries Status).

As Bangladesh completes its 50 years of independence, it received UN Committee for Development Policy’s recommendation to reach to a developed country category.

In an article titled, 'Bangladesh Is Becoming South Asia's Economic Bull Case', the New York-based newspaper credited Bangladesh for being 'the closest proxy for the successful development models seen at various stages in South Korea, China and Vietnam.'

The article also highlighted the progress made by Bangladesh in terms of exports and GDP per capita in comparison to India and Pakistan which have seen a marginal decline in these measures.

Export-led development has the best modern track record of moving countries from very low-income levels into middle-income status, according to WSJ.

It is likely noticeable that Bangladesh’s 80 percent growth in exports in the last decade was driven by the garment industry, envisaging its democratic structure, competitive edge in wages, and enhanced female workforce in comparison to the rest of the South Asia.