Prime Minister’s Adviser on Finance and Planning Prof Dr Rashed Al Mahmud Titumir has said Bangladesh aims to emerge as a global manufacturing hub and export gateway by developing stronger regional production networks as part of its strategy for economic development.
In this regard, he said, cooperation between Bangladesh and Pakistan could set a new example, proposing the establishment of integrated production networks linking South Asia, Southeast Asia, the Middle East and North Africa.
Titumir made the remarks while addressing the inaugural session of the four-day 29th Sustainable Development Conference as the guest of honour in Islamabad, Pakistan, on Monday, according to a press release issued by the Ministry of Finance on Tuesday.
The conference was organised by the Sustainable Development Policy Institute (SDPI).
He stressed that developing countries should attract investments that build domestic capacity, facilitate technology transfer and create employment opportunities.
The adviser also said Bangladesh planned to increase public spending on education from around 2 percent of GDP at present to 5 percent by 2030.
He said Bangladesh was working to develop stronger production networks with other South Asian countries to restore normal production flows and address the long-term adverse effects on global manufacturing structures.
Titumir said the initiative could play an important role in promoting inclusive and sustainable development across South Asia.
Referring to the ongoing global economic slowdown, he said the government was implementing social safety net programmes, including the Family Card and Farmers’ Card initiatives, to ensure balanced development.
The adviser expressed hope that such measures would help Bangladesh overcome the prolonged economic crisis and poverty arising from war, energy shortages and the misrule of the previous government.
Pakistan’s Federal Minister for Planning, Development and Special Initiatives Prof Ahsan Iqbal presented the keynote paper at the conference.
The four-day event features around 50 panel and plenary sessions, with more than 300 development experts and prominent figures from political and social spheres expected to participate. Over 100 of the participants are women.
Delegates from South Asia, Southeast Asia, China and other parts of the world are taking part in the conference.
After attending the event, Titumir visited the newly constructed Bangladesh Chancery Complex in Islamabad and exchanged greetings with officials and employees of the Bangladesh High Commission.
He also planted a sapling of a jamun tree on the chancery premises.
During his visit, the adviser held separate meetings with Pakistan’s Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, Ahsan Iqbal, Federal Minister for Energy Ali Pervaiz Malik, and Prime Minister’s Adviser on Industries and Production Haroon Akhtar Khan.
The meetings discussed opportunities for exchanging experiences and strengthening mutual cooperation in addressing challenges in areas of shared interest.