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Kamal elected CFMM president

  • Staff Correspondent
  • 14 October, 2021 12:00 AM
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Kamal elected CFMM president

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Bangladesh Finance Minister AHM Mustafa Kamal has been elected president of the Commonwealth finance ministers’ meeting for the year 2022.

It was decided at a virtual meeting of the finance ministers of 54 Commonwealth nations held on Tuesday on the sidelines of ongoing World Bank-IMF Annual meeting 2021.

Kamal was elected after Brunei supported a formal proposal of Malaysia for this at the Commonwealth finance ministers’ meet this year, a finance ministry release said on Wednesday.

After being elected, the finance minister thank all at the meeting, which was also attended by high officials of Commonwealth countries, on behalf of all the citizens of Bangladesh.

In the meeting, Kamal informed that Bangladesh registered an average 7.4 percent growth in the last decade.

Even, some global surveys have placed it at the top five resilient economies of the world despite the Corona pandemic shrank global economy by 3 percent, added.

He also mentioned that Bangladesh Prime Minister has been conferred with SDGs Progress Award at the international sustainable development conference of the General Assembly meet of the United Nations. “Commonwealth has a glorious past as the start of the first industrial revolution with the invention of steam engine in the UK in 1769 was a lighthouse for global economic development,” Kamal said.

The first factory in real sense was first established in Derbyshire, UK in 1771, he said, adding: “It’s a well known truth that Indian subcontinent was the world’s richest country in the seventeenth century.”

“I firmly believe that Commonwealth countries can achieve more socio-economic progress by enhancing intra-commonwealth trade and investment, and sharing knowledge, technology and best practices in coordinated efforts,” he continued.

Presided over by Antigua & Barbuda Prime Minister Gaston Browne, the meeting was also attended by General Secretary of Commonwealth Secretariat Patricia Scotland.

The meeting discussed issues including credit for sustainable development and economic recovery, global minimum tax deal and its impact on Commonwealth nations, credit for addressing climate change impacts and Commonwealth Climate Finance Access Hum, among others.