Economic Reporter :
Foreign Minister AH Mahmood Ali on Tuesday said BIMSTEC forum can be an alternative to LDC club to face some immediate challenges, which Bangladesh may experience following its graduation into a middle income country from the LDC group.
“We will also face some immediate trade and economic challenges to sustain the momentum of the development and progress we have made…We have to find out alternatives to LDC Club. BIMSTEC forum could be one such alternate,” he said.
The foreign minister was addressing as the chief guest at a seminar of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) at BIMSTEC Secretariat here.
BIMSTEC Secretary General M. Shahidul Islam also spoke at the inaugural session of the seminar. Representatives of the BIMSTEC member states, policy makers, foreign policy experts, academics, business leaders and civil society members, among others, joined the event as panel discussants.
Ali said Bangladesh along with three other BIMSTEC members, including Bhutan, Nepal and Myanmar, are in the process of graduation from the LDC group which is a matter of immense pride for us.
“We can supplement the economic benefits and gains we used to receive as LDC club members through rapid enhancement of economic cooperation under BIMSTEC process,” he said. The foreign minister said it is now imperative on the member states that “we conclude all pending formalities to harness quick dividends from our cooperation in the BIMSTEC forum”.
He said the government of Prime Minister Sheikh Hasina attaches high priority to transform the BIMSTEC process more dynamic, effective and to strengthening the institutional mechanism for bringing out more results.
“Hosting the BIMSTEC Secretariat since 2014 in Dhaka is a testimony of our commitment to the BIMSTEC process,” he added.
Ali said BIMSTEC forum left behind 20 years and during this journey and there have been some significant achievements in economic advancement, social and technological progress.
