Take measures against poverty: Fakhruddin urged BIMSTEC ministers

Chief Adviser (CA) of the interim government of Bangladesh Dr. Fakhruddin Ahmed urged the BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) ministers to consider the impact of global warming, climate change and recent rise in prices of fuels and food on poverty, and suggested to take measures for alleviation of poverty.

The Chief Advisor addressed the meeting after inaugurating it in a hotel of Dhaka on the morning of 9th July 9, 2008. In his inaugural speech CA said, “If we take advantage of the experiences of member-countries in a concerted way, I think it is possible to have a far-reaching impact on poverty reduction and development. In this connection, the institutional framework of BIMSTEC member-countries may be devised for intensive and extensive research investigation, and ultimately development of programs incorporating events such as global warming and climate change. I also would ask that the ministers consider the impact of the recent increases in energy and food prices on poverty and suggest measures to address the same by member countries and also measures that the developed countries can and must take.”

The BIMSTEC has seven South Asian and South East Asian countries as members. They are Bangladesh, India, Myanmar, Sri Lanka, Bhutan, Nepal and Thailand.

Dr. Fakhruddin Ahmed, CA of Bangladesh, recalled the history of BIMSTEC and said “BIMSTEC started its journey in 1997 with only four member-countries for regional cooperation. The list has now expanded to seven. It brings together around 1.4 billion people or more than 20 percent of the world population and represents a combined GDP of US dollars 750 billion. It has potential for a trade volume to the tune of 50 to 60 billion US dollars.”

“The forum provides a unique link between South Asia and South-East Asia. From the very beginning, it has been considered as a powerful mechanism to promote opportunities for trade, investment and tourism between these two regions. Societies within BIMSTEC are pluralistic; our languages are rich and diverse and we have a shared cultural heritage. All these provide plentiful opportunity for multi-dimensional cooperation within this region”, Dr. Fakhruddin added.

The chief Advisor of Bangladesh, in his speech, also said “I have the honour to declare Bangladesh’s unflinching commitment to the founding objectives and principles of BIMSTEC. We must assess the challenges and opportunities for economic cooperation in this region. We reaffirm our resolve for collaboration to strengthen BIMSTEC’s ability to find ways and means for addressing this challenges and opportunities efficiently and effectively.”

In the inaugural speech, the Chief Advisor also mentioned that the post-war history of development, regional cooperation has become an important phenomenon. Many regions of the world have achieved fruitful results in trade, industry, tourism, monetary cooperation, technology transfer, and ultimately better lives for the people through regional cooperation. It is possible to have a far-reaching impact on poverty reduction and development through such cooperation.