Urging the government to intensify the coordinated efforts of all concerned ministries, experts at a webinar said that concerted cooperation is required to face the challenges ahead on the path of graduating developing economy from the least developed economy.
It is high time to ensure close cooperation among the different ministries especially the ministry of commerce, ministry of foreign affairs and ministry of finance aimed to foster economic development through trade and business after the graduation to developing economies from least developed economies, they said.Experts came up at the virtual seminar on “Rise of Geo-economics and Bangladesh” jointly organised by the Economic Reporters’ Forum (ERF), the Research Policy Integration for Development (RAPID) and EU based research organisation Friedrich-Ebert-Stiftung (FES) on Wednesday.
Commerce Minister Tipu Munshi was the chief guest while Commerce Secretary Dr. Md Zafar Uddin joined as the special guest. Former Ambassador and Secretary, Ministry of Foreign Affairs M Humayun Kabir, MCCI President Barrister Nihad Kabir and Apex Footwear Limited Managing Director Syed Nasim Manzur attended as the panel discussants.
Resident Representative, FES Tina Blohm and Executive Director of RAPID Dr. Abu Eusuf also delivered the welcome remarks.
Chairman of RAPID Dr. Mohammad Abdur Razzaque presented the keynote paper. ERF President Sharmeen Rinvy chaired the event while General Secretary SM Rashidul Islam moderated the webinar.
Tipu Munshi said the economy across the globe especially the less developed countries was vulnerable even before Covid -19, but the pandemic coupled with trade war between China and the USA has made it further vulnerable.
“We are aware of the situation and preparing mid-term and long-term plans to face the challenges. All ministries concerned are engaged aiming how to overcome this situation,” the minister said. He said that the foreign missions are also working to explore the new markets.“The government under the leadership of Prime Minister Sheikh Hasina has been aiming to diversify our export items instead of only readymade garments.”