, Aug. 14 -- Business leaders on Thursday called for extending Bangladesh's graduation time from the Least Developed Country (LDC) category by six years, warning that moving ahead with the transition next year would be a 'mistake' which may harm the country's private sector.

Speaking at a seminar titled 'LDC Graduation: Some Options for Bangladesh' organised by the International Chamber of Commerce, Bangladesh (ICCB), they said the country is not yet prepared for the shift.

In his opening remarks, ICCB President Mahbubur Rahman said Bangladesh still lacks preparations for LDC graduation for weak capacity in free trade negotiations, limited export diversification, shortage of skilled human resources in industries, insufficient foreign in...