foreign-affairs
Stronger private sector critical for Bangladesh to realize economic potential: Report
Bangladesh needs to embark on a new round of reforms to strengthen and modernize the private sector in a bid to unleash the country’s potential to drive diversified, export-led growth and create jobs, says a new World Bank Group report on Wednesday.
The Bangladesh Country Private Sector Diagnostic (CPSD) report, prepared by IFC and the World Bank, says while Bangladesh has been one of the biggest development success stories in recent decades, it is now time to switch gears to meet ambitions to transform into an upper middle-income country in the next decade.
“Bangladesh had a positive GDP growth rate last year despite the adverse impact of the COVID-19 pandemic and it was the only country in South Asia which did not experience a recession. We have prepared the Eighth Five Year Plan keeping all the challenges of the COVID-19 pandemic in mind,” said Salman F Rahman, Private Sector Industry and Investment Adviser to the Prime Minister.
He said the CPSD recommendations are well aligned with the priorities of the government’s Eighth Five Year plan for setting a trajectory towards a prosperous Bangladesh by 2041.
“The pandemic has hit Bangladesh hard and as the country recovers from COVID-19, the need for reforms will become even more compelling. Finding new sources of income and growth will be an urgent priority,” said Alfonso Garcia Mora, IFC’s Vice President Asia and Pacific.
Also read: World Bank lifts global growth outlook to 5.6% on US, China rebounds
The private sector, which already accounts for more than 70 percent of all investment in Bangladesh, supported by a strong financial sector, will need to play an important role in spurring the recovery so the country can grow, export and create quality jobs, Mora said.
The report says the successful development of the ready-made garment (RMG) sector, which alone created more than 4 million jobs, along with the strong inflow of remittances, supported by prudent government policy choices, have been the key growth engines of Bangladesh's strong and resilient growth, even during the pandemic outbreak."
“As the world’s second largest exporter, readymade garments have contributed significantly to Bangladesh’s economic growth. For a more resilient, inclusive and sustainable growth, Bangladesh will need to diversify its export basket and develop a robust and sophisticated private sector, relevant in the post–COVID-19 recovery phase when public resources will be needed most in the social sectors,” said Mercy Tembon, World Bank’s Country Director for Bangladesh and Bhutan.
The report says key priority areas for the reform agenda include creating a favorable trade and investment environment for domestic and foreign investors, modernizing and expanding the financial sector and removing impediments for developing infrastructure.
Transport and logistics, energy, financial services, light manufacturing, agribusiness, healthcare and pharmaceuticals sectors are among those with the strongest potential for private investment that could play a significant role in boosting economic growth.
“It’s clear the private sector has an important role to play to meet the rising demand for quality healthcare and improving the efficiency of delivering health services, as health financing in the country is low compared to others at a similar level of development,” said Wendy Werner, IFC Country Manager for Bangladesh, Bhutan, and Nepal.
Also read: Bangladesh inks over $1 b deal with World Bank for responding to COVID-19 pandemic
“Bangladesh could also target high-end markets and introduce new technology in the ready-made garment sector, and seize opportunities in footwear, leather electrical goods, and agribusiness exports.”
The government of Bangladesh’s Perspective Plan 2021–41 sets the objective of becoming an upper-middle-income country by 2031, along with full employment and the elimination of extreme poverty.
As the CPSD report points out, challenges persist with more than 40 million Bangladeshis still living below the poverty line today, and nearly half the population vulnerable to falling back into poverty.
The private sector is responsible for 90 percent of jobs in the developing world. It is therefore critical to boost development of a broad-based private sector.
The findings of the report will be used to craft IFC’s strategic inputs for the World Bank Group’s (WBG) new Country Partnership Framework with the government of Bangladesh, paving the way for joint programming to create markets and unlock private sector potential.
Covid: UN expert for making right to health a reality for all
Governments must do more to guarantee universal and equitable access to Covid-19 vaccines and guarantee the enjoyment of the right to life and health of billions of people in developing countries, a UN expert told the Human Rights Council Wednesday.
"The pandemic's disproportionate impact on Black people, indigenous peoples and other ethnically, religiously and racially persecuted groups, such as the Rohingya and Roma, is rooted in historical and current systems of oppression, systemic discrimination and racism," Tlaleng Mofokeng, the Special Rapporteur on the right to health, told the Council.
Also read: Covid-19: Bangladesh reports 85 more deaths, positivity rate crosses 20%
These factors also underpin the lack of universal access to Covid-19 vaccines for the poor in the global South, she said.
Mofokeng, who took up her duties on August 1 last year, said: "My priorities include global health related to the Covid-19 pandemic, racism and the right to health and health equity."
The Special Rapporteur, while presenting her annual report to the Council, said she would also focus on sexuality, gender-based violence and femicide during her tenure.
Also read: 16 more Covid patients die at Rajshahi hospital
"Sexual health is fundamental to the overall health and wellbeing of individuals, couples and families," Mofokeng said. "Dignity and bodily autonomy are central to sexual and reproductive health rights."
"It is a grave injustice that one in three women report physical and or sexual partner violence, and that lesbian and transgender women experience homophobic rape and other forms of sexual violence," she said, "These serious human rights violations also have a heavy toll on their physical and mental health."
Speakers for amending Smoking and Tobacco Usage (Control) Act
Speakers at a virtual discussion viewed that the current tobacco control Act needs to be amended to ensure cent percent smoking-free environment for the expansion of the tourism and hospitality sector.
There should be no smoking zone in the restaurants to protect non-smokers from the dangers of secondhand smoking, they said.
Dhaka Ahsania Mission and Aviation and Tourism Journalists’ Forum of Bangladesh (ATJFB) hosted the event and discussed the necessity of amending the Smoking and Tobacco Usge (Control) Act 2005.
Read:WHO to launch initiative to help 1.3 bln people quit smoking
The event held on Tuesday was chaired by Nadira Kiran, President, ATJFB and News Editor, ATN Bangla.
Lead Policy Advisor of Campaign for Tobacco Free Kids Bangladesh Md. Mostafizur Rahman, Grants Manager Abdus Salam Mia, Senior Policy Advisor Md. Ataur Rahman Masud, Communications officer Sarkar Shams Bin Sharif, Assistant Director of Dhaka Ahsania Mission Mukhlesur Rahman, Tanzim Anwar, General Secretary, ATJFB and Online Incharge, BSS, spoke at the meeting.
Dhaka wants NAM to find lasting solution to Palestinian crisis
Foreign Minister Dr AK Abdul Momen has said the Non-Aligned Movement (NAM) should make a concrete initiative to achieve a lasting solution to the Palestinian crisis.
The Foreign Minister was addressing an extraordinary meeting of the NAM Committee on Palestine held on Tuesday.
Recalling the unflinching support expressed by Father of the Nation Bangabandhu Sheikh Mujibur Rahman for the just struggle of the Palestinian people, Dr Momen reiterated Bangladesh’s solidarity and continued commitment in support of the inalienable rights of the Palestinians to self-determination, independence, statehood and sovereignty.
He expressed deep concern over the recent violation of ceasefire and indiscriminate attacks carried out by the Israeli forces on innocent Palestinians. “Failure of the international community to resolve the Palestinian crisis has led to a protracted situation in the Middle East.”
Also read: Bangladesh always with Palestinians, reaffirms PM
Dr Momen called for immediate action to hold Israel accountable for its flagrant violations of international laws, norms and principles.
“NAM’s support to the ongoing investigation by the International Criminal Court is of utmost importance,” he added.
The Foreign Minister called upon NAM to redouble its efforts for a just, durable and peaceful solution of this long-lingering crisis.
Also read: Palestinians, settlers clash in tense Jerusalem neighborhood
He also urged it to ensure adequate assistance for meeting the urgent humanitarian needs of the Palestinians, including their need for Covid-19 vaccines.
Dr Momen participated in the ministerial meeting of the NAM Committee on Palestine convened on Tuesday.
The Foreign Minister of Palestine, Foreign Ministers of Indonesia, Algeria, Cuba, Egypt, Zimbabwe, South Africa and Malaysia were, among others, attended the event.
Covid vaccine apparently emerged as another tool of exploitation: FM
Foreign Minister Dr AK Abdul Momen on Tuesday said Covid-19 vaccine has apparently become another “tool of exploitation” now, noting that some rich countries are holding back vaccine doses beyond their internal demands.
“They (rich countries) assure us just saying, ‘you don’t worry’, but nobody gives us vaccines. In some cases, they want to know whether we (Bangladesh) will support them on a particular issue (various elections in global forums). That shouldn’t be tagged with Covid vaccination. It should be independent,” he said without naming any specific country.
The Foreign Minister made the remarks while talking to reporters at his office at the Ministry of Foreign Affairs.
Dr Momen, who returned home early Tuesday wrapping up his New York visit, said he made it clear during his meeting with the UN Secretary General with some examples.
He said he talked about Covid and vaccination issues in all his meetings in New York and received a lot of assurances as usual.
Read: US to honour Bangladesh's request for AstraZeneca vaccine
Dr Momen said Prime Minister Sheikh Hasina has been saying from day one that vaccines should be a public good and should be affordable to everyone. “No discrimination should be there. Unfortunately, rich countries are sitting with more vaccines going beyond their requirement. They aren’t using those and there’re incidents of date expiry.”
The Foreign Minister said the US wants to give vaccine doses to Bangladesh but they want to give it mainly through the COVAX facility.
Read: FM to join China-led virtual meeting on vaccine cooperation
Asked about the UN General Assembly resolution that did not cover the Rohingya repatriation issue, Dr Momen said they will continue their efforts keeping Rohingya repatriation as the first priority. “It’ll remain our number one objective.”
He said Bangladesh abstained from voting the resolution as its priority issue – Rohingya repatriation was not accepted. “We also made a strong statement. Let them realize that repatriation is a big issue for us.”
Bangladesh expressed “deep disappointment” over the new resolution on Myanmar at the United Nations General Assembly as ``it has failed to recommend actions” on repatriation of the Rohingyas and failed to adequately reflect on the crisis.
“The resolution that was adopted falls far short of our expectations,” said Permanent Representative of Bangladesh to the UN Ambassador Rabab Fatima after adoption of the resolution on the ‘Situation in Myanmar’ at the 75th session of the UNGA.
In an explanation of vote by Bangladesh, she said the resolution failed to recognize in its operative part, the urgent need for creating conditions for the safe, voluntary and sustainable return of the displaced minorities of Myanmar, particularly the Rohingyas.
The resolution was adopted by the UN General Assembly with 119 votes in favour, 01 against and 36 abstentions, focusing on the current democratic crisis in the country, including the declaration of emergency, and detention of its political leader, calling for restoration of democracy, while recognizing the central role of ASEAN.
“We share borders with Myanmar; we host over a million of their people. Therefore, stability in Myanmar is critically important for us in finding a durable solution for the million Rohingya we host, who are victims of atrocity crimes,” she said.
BGMEA discusses export, FDI opportunities with Bangladesh envoy
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan has sought the support of the Bangladesh High Commission in London regarding non-payment by some of the British brands to their Bangladeshi suppliers during the Covid-19 crisis.
Bangladesh High Commissioner to the UK Saida Muna Tasneem met BGMEA President Faruque Hassan at the latter’s office and discussed trade related issues.
Read:BGMEA seeks 10-yr extension of GSP in Swiss market
BGMEA Vice President Miran Ali was also present at the meeting.
They discussed various trade issues including export opportunities for Bangladesh in the UK market and generating ways to attract more foreign direct investment from the country.
Read: BGMEA chief underlines importance of enhanced productivity
The discussions also encompassed issues regarding graduation of Bangladesh from LDC, possible changes in the tariff regime and how Bangladesh could retain its market access in the post-LDC status in the UK.
Eye-care unit to open at Bangladesh-Korea Friendship Hospital this month
The operation of eye-care unit at Bangladesh-Korea Friendship Hospital (BKFH) in Savar begins this month.
South Korean Ambassador to Bangladesh Lee Jang-keun met Health Minster Zahid Maleque on Monday and informed him of the progress.
Read: Bangladesh’s single largest rooftop solar power plant inaugurated in Korean EPZ
He sought support of the Bangladesh government for the successful operation of the Hospital and its newly established eye-care unit.
The Korean Government, through KOICA, has established the Bangladesh-Korea Friendship Hospital in 1998 and handed over to the Bangladesh Government in 2008.
The Eye Health Promotion and Prevention of Blindness project was launched in 2014 with a total budget of 8.45 million US dollars, and a separate eye-care building was built in 2019 annexed to the BKFH.
Read: Korean envoy seeks jabs for all foreign investors in Bangladesh
Ambassador Lee also sought support of the Bangladesh Government for the vaccination of Korean nationals living in Bangladesh.
Earlier in March the Embassy sent the list of Korean nationals who wish to be vaccinated to the Ministry of Foreign Affairs, but none of them has been vaccinated yet.
Ambassador Lee requested the Minister to facilitate Bangladesh’s cooperation with the International Vaccine Institute (IVI), a Seoul-based international organization established in 1997 whose main function is to develop vaccines and deliver them to developing countries.
Read: Korea to provide $700 mn of EDCF loan to Bangladesh
Bangladesh is among the 36 signatories of the founding charter of IVI.
UK announces sanctions on companies linked to Myanmar’s military regime
The United Kingdom on Monday announced further sanctions on companies linked to Myanmar’s military regime which will restrict the military junta’s ability to profit from timber and pearl, key sources of revenue for the regime.
British Foreign Secretary Dominic Raab announced the new sanctions against the Myanmar Timber Enterprise, Myanmar Pearl Enterprise and the State Administration Council.
UK will maintain suspension on trade promotion in Myanmar and strengthen advice to British businesses following review of Myanmar trade, according to Foreign, Commonwealth & Development Office.
READ: Resolution on Myanmar fails to recommend actions on Rohingya repatriation: Dhaka
In the UK’s sixth tranche of Myanmar sanctions, measures announced today will target the Myanmar regime’s economic interest with new designations against the State Administration Council (SAC), the junta’s ruling body, who continue to undermine democracy and brutally suppress Myanmar’s civilians.
These sanctions send a clear message to the junta the UK will not allow financial support that props up the military regime following the coup earlier this year, said the UK government.
Additional measures will now be imposed on the Myanmar Timber Enterprise and Myanmar Pearl Enterprise, 2 state owned entities in Myanmar’s extractive sector.
These asset freezes will be enforced with immediate effect, and target the junta’s ability to profit from pearl and timber, 2 high-value natural commodities that generate millions in revenue for the military regime.
Foreign Secretary Dominic Raab said alongside our allies, they are placing sanctions on companies linked to Myanmar’s military junta, targeting the finances of this illegitimate regime.
"The military has continued its subversion of democracy and brutal killing of civilians. We will continue to hold the Junta to account and sanction those responsible, until democracy is restored."
The British Foreign Secretary also announced the conclusion of the UK’s Myanmar Trade Review.
In a Written Ministerial Statement in Parliament, he confirmed that the UK will maintain its suspension on trade promotion in Myanmar first imposed following the coup earlier this year.
The UK will also strengthen their Overseas Business Risk guidance to reiterate the message that UK businesses must undertake enhanced supply chain due diligence and should not enter into trading relationships that benefit the Myanmar military.
The Myanmar Trade Review emphasised that UK businesses continue to have an important role to play in Myanmar in job creation and poverty alleviation, but should operate responsibly in order to avoid inadvertently supporting the military regime.
READ: Resident: Junta burns Myanmar village in escalating violence
Today’s new sanctions announcement, alongside the similar announcement from the European Union on Myanmar Timber Enterprise, follows the recent G7 communiqué which called on partners and business to exercise due diligence in their trade and investment in Myanmar.
Under the UK’s presidency the G7 continues to call for an end to the coup and the immediate adoption of the ASEAN 5-point consensus.
Film Adda at BD-EU film fest Tuesday
Grand Film Adda, the unique online programme of the Bangladesh European Union Film Festival (BEUFF), will be held at 2pm on Tuesday in collaboration with the Daily Prothom Alo.
The event will be broadcast live on the Facebook pages of Prothom Alo, the European Union in Bangladesh and their YouTube channels. Audiences can also view the show from the website beuff.org.
Read: First-ever Bangladesh European Union Film Festival kicks off online
The Grand Film Adda is the primary event held in the margins of the festival, which film critic Sadia Khalid Reeti will moderate.
The panellists in the event include the eight European Union Ambassadors or their representatives and representatives from the Government of Bangladesh.
The Bangladesh European Union Film Festival has been organised by the EU Delegation to Bangladesh in partnership with the EU Member States, the Alliance Française and the Goethe Institute to mark 50 years of Bangladesh’s independence.
The festival that began on June 9 will continue till June 30 which is seen as a step forward to enrich the diplomatic relations between the EU and Bangladesh and increase and enhance cultural exchange.
Bangladesh looks to export resort wear to Maldives
Apparels makers have discussed the prospect of exporting resort wear and leisure apparel to the Maldives.
The small archipelagic state is a popular destination for global tourists where the demand for such clothing is very high.
READ: Rebuilding partnership key to apparel value chain recovery: Speakers
The issue was discussed Monday as Maldives High Commissioner Shiruzimath Sameer met with Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan at the latter's office. BGMEA Vice-President Miran Ali was also present.
READ: How Bangladesh can boost apparel exports
They discussed the possible areas of cooperation between the Maldives and Bangladesh for enhancing bilateral trade.