UNB, Dhaka :
Experts at a virtual dialogue have discussed ways to convert the current challenges posed by the Covid-19 pandemic into opportunities through proper recovery measures, keeping Bangladesh on the right track of development.
They said Bangladesh must pursue it as there would be sunshine amid clouds that the Covid-19 brought which is truly a global catastrophe.
Cosmos Foundation, the philanthropic arm of Cosmos Group, organised the webinar as part of Cosmos Dialogue, titled “Impact of Covid-19 on Bangladesh: Prognosis for Recovery” on Friday night connecting experts from home and abroad virtually.
Chairman of Cosmos Foundation Enayetullah Khan delivered the welcome speech at the webinar chaired by Dr Iftekhar Ahmed Chowdhury, the Principal Research Fellow at the Institute of South Asian Studies, National University of Singapore, and former Foreign Affairs Adviser to Bangladesh’s previous caretaker government.
Prominent economist and Chairman of Policy Research Institute (PRI) Dr Zaidi Sattar talked about the macroeconomic impact of Covid-19 on Bangladesh and prognosis for recovery.
Prof Haider Khan, John Evans Distinguished Professor of Economics at the University of Denver, highlighted the geopolitical implications of Covid-19 and challenges for Bangladesh.
Muhammed Aziz Khan, founder and Chairman of Summit Power International Limited, Summit Holdings Ltd and IPCO Developments (Bangladesh) Limited, talked about the impact of Covid-19 on infrastructures in Bangladesh.
Executive Director, Campaign for Popular Education (CAMPE) and former adviser to a previous caretaker government, Rasheda K Choudhury spoke with focus on the impact of Covid-19 on women and education in Bangladesh and its recovery plans.
President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Dr Rubana Huq discussed the impact of Covid-19 on the readymade garment sector in Bangladesh. Cosmos Foundation Executive Director Nahar Khan delivered the concluding remarks.
“The catastrophe is truly global. This is a hill we’ll have to climb,” said Dr Iftekhar adding that the recovery will be there gradually.
He laid emphasis on converting the challenges to opportunities through joint efforts.
Dr Zaidi Sattar said it is pandemic globally, not epidemic and the government of Bangladesh was very quick to respond without wasting any time.
He highlighted the impact on the Bangladesh economy as its economy is well-integrated with the global economy.
The economist said there will be need for more fiscal resources and cash transfers as many people will need them. “Policymakers are trying their best.”
Talking about recovery, he said it needs to be seen what is going on externally and domestically and mentioned that economic recovery cannot happen with “imbalance” incentives.
Zaidi Sattar laid emphasis on export diversification, more investment and ensuring balanced incentives for the relevant sectors.
Dr Rubana said it was almost like a nightmare and for them it was a critical journey when they saw RMG export orders worth over US$ 3.15 billion were cancelled or held up.
Responding to a question, she said they have negotiated almost 48 percent of the cancelled orders to be reinstated but the payment terms are still vague.
Aziz Khan said there will be huge opportunities for Bangladesh in the post-Covid-19 scenario that the country needs to utilise. Talking about the impact of Covid-19 on infrastructures in Bangladesh, he said the pandemic will bring about a new life and new culture.
The prominent businessman said here is shortage both in demand and supply, and this will encourage other countries to supply to Bangladesh and also take goods from the country.
“Bangladesh will be in a much stronger position to negotiate with the importers of garments which is a basic goods,” he added. “We will have the possibility to have better contracts. “
Describing different infrastructural development in the country, Aziz Khan said Bangladesh now generates 20,000 MW of electricity, Padma Bridge and three ports are coming up which will connect the country with the rest of the world.
“Many African countries do not have port facilities for which they have to suffer a lot, but Bangladesh has got that opportunity,” he said adding that metro rail, underground tunnel projects are being implemented which will create new opportunities for the country.
Aziz Khan said the government should look into the portfolio infrastructures as how they could be implemented in a faster way.
He said Bangladesh’s large import is the energy and its cost will be half in post-Covid-19 era. “This means if we have to spend $4 billion, now we will need $2 billion.”
“So, I see the biggest opportunity in this regard,” he added.
Aziz Khan said Covid-19 is certainly bad for all but these opportunities are the “stars in the darkness”.
“There could be sunshine and there could be sunshine in the cloud for which Bangladesh must pursue,” he said.
Prof Haider Khan said Bangladesh needs to keep friendly relationship both in rhetoric and in practice with its neighbouring countries.
But, he added, Bangladesh also needs to practise time-honoured and strategic good relationship on the move which is called “balancing”.
The expert said it is a very obvious geopolitical fact that Bangladesh is surrounded by three sides – with lands by one country – India.
“We have another country which is not always friendly to us – Myanmar on the south and then we have the Bay of Bengal but we cannot control much of our Bay of Bengal, and we should remember that as well,” Haider Khan said.
Experts at a virtual dialogue have discussed ways to convert the current challenges posed by the Covid-19 pandemic into opportunities through proper recovery measures, keeping Bangladesh on the right track of development.
They said Bangladesh must pursue it as there would be sunshine amid clouds that the Covid-19 brought which is truly a global catastrophe.
Cosmos Foundation, the philanthropic arm of Cosmos Group, organised the webinar as part of Cosmos Dialogue, titled “Impact of Covid-19 on Bangladesh: Prognosis for Recovery” on Friday night connecting experts from home and abroad virtually.
Chairman of Cosmos Foundation Enayetullah Khan delivered the welcome speech at the webinar chaired by Dr Iftekhar Ahmed Chowdhury, the Principal Research Fellow at the Institute of South Asian Studies, National University of Singapore, and former Foreign Affairs Adviser to Bangladesh’s previous caretaker government.
Prominent economist and Chairman of Policy Research Institute (PRI) Dr Zaidi Sattar talked about the macroeconomic impact of Covid-19 on Bangladesh and prognosis for recovery.
Prof Haider Khan, John Evans Distinguished Professor of Economics at the University of Denver, highlighted the geopolitical implications of Covid-19 and challenges for Bangladesh.
Muhammed Aziz Khan, founder and Chairman of Summit Power International Limited, Summit Holdings Ltd and IPCO Developments (Bangladesh) Limited, talked about the impact of Covid-19 on infrastructures in Bangladesh.
Executive Director, Campaign for Popular Education (CAMPE) and former adviser to a previous caretaker government, Rasheda K Choudhury spoke with focus on the impact of Covid-19 on women and education in Bangladesh and its recovery plans.
President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Dr Rubana Huq discussed the impact of Covid-19 on the readymade garment sector in Bangladesh. Cosmos Foundation Executive Director Nahar Khan delivered the concluding remarks.
“The catastrophe is truly global. This is a hill we’ll have to climb,” said Dr Iftekhar adding that the recovery will be there gradually.
He laid emphasis on converting the challenges to opportunities through joint efforts.
Dr Zaidi Sattar said it is pandemic globally, not epidemic and the government of Bangladesh was very quick to respond without wasting any time.
He highlighted the impact on the Bangladesh economy as its economy is well-integrated with the global economy.
The economist said there will be need for more fiscal resources and cash transfers as many people will need them. “Policymakers are trying their best.”
Talking about recovery, he said it needs to be seen what is going on externally and domestically and mentioned that economic recovery cannot happen with “imbalance” incentives.
Zaidi Sattar laid emphasis on export diversification, more investment and ensuring balanced incentives for the relevant sectors.
Dr Rubana said it was almost like a nightmare and for them it was a critical journey when they saw RMG export orders worth over US$ 3.15 billion were cancelled or held up.
Responding to a question, she said they have negotiated almost 48 percent of the cancelled orders to be reinstated but the payment terms are still vague.
Aziz Khan said there will be huge opportunities for Bangladesh in the post-Covid-19 scenario that the country needs to utilise. Talking about the impact of Covid-19 on infrastructures in Bangladesh, he said the pandemic will bring about a new life and new culture.
The prominent businessman said here is shortage both in demand and supply, and this will encourage other countries to supply to Bangladesh and also take goods from the country.
“Bangladesh will be in a much stronger position to negotiate with the importers of garments which is a basic goods,” he added. “We will have the possibility to have better contracts. “
Describing different infrastructural development in the country, Aziz Khan said Bangladesh now generates 20,000 MW of electricity, Padma Bridge and three ports are coming up which will connect the country with the rest of the world.
“Many African countries do not have port facilities for which they have to suffer a lot, but Bangladesh has got that opportunity,” he said adding that metro rail, underground tunnel projects are being implemented which will create new opportunities for the country.
Aziz Khan said the government should look into the portfolio infrastructures as how they could be implemented in a faster way.
He said Bangladesh’s large import is the energy and its cost will be half in post-Covid-19 era. “This means if we have to spend $4 billion, now we will need $2 billion.”
“So, I see the biggest opportunity in this regard,” he added.
Aziz Khan said Covid-19 is certainly bad for all but these opportunities are the “stars in the darkness”.
“There could be sunshine and there could be sunshine in the cloud for which Bangladesh must pursue,” he said.
Prof Haider Khan said Bangladesh needs to keep friendly relationship both in rhetoric and in practice with its neighbouring countries.
But, he added, Bangladesh also needs to practise time-honoured and strategic good relationship on the move which is called “balancing”.
The expert said it is a very obvious geopolitical fact that Bangladesh is surrounded by three sides – with lands by one country – India.
“We have another country which is not always friendly to us – Myanmar on the south and then we have the Bay of Bengal but we cannot control much of our Bay of Bengal, and we should remember that as well,” Haider Khan said.
