Dhaka, May 20 -- Our hope is that the forthcoming FY2026 Budget could be a crucial reform budget that could change the direction of the economy, like the budget of FY1992 did. Addressing the economy's persistent and deep-rooted protectionism will have to be one of the key policy priorities in order to meet the impending Least Developed Country (LDC) graduation challenges as well as for the immediate response to the onslaught of United States (US) 'reciprocal tariffs'. These are times when global protectionism is on the rise. But the time is ripe for Bangladesh to do the opposite. Let me explain in as much detail as I can muster in this short article.

21st century protectionism is no ghost of bygone days. It has brought the global economy...