Meaningful progress in S Asian countries slow: Atiur
Dhaka, Oct 23 (UNB)-Despite extensive dialogue and agenda setting, meaningful progress in South Asian countries in concrete term remained slow over the decades, said Bangladesh Bank governor Dr Atiur Rahman on Sunday.
He, however, said the region saw significant headways in several directions, including tariff-free entry of Bangladeshi apparels into Indian market, trans-border movement of goods, free movement of enclave residents and activation of border haats in the past couple of years.
“Progress will hopefully be followed with substantial momentum in intraregional investment in physical infrastructure and manufacturing for markets in the region and beyond,” he told the 4th South Asia Economic Summit on the second day at Hotel Ruposhi Bangla in the morning.
Commerce Minister Faruk Khan was present as the chief guest at the function, organised by Centre for Policy Dialogue (CPD), a civil society think tank.
Experts, economists, academics from South Asian countries took part in the session chaired by former Finance Minister M Syeduzzaman. CPD executive director Prof Mustafizur Rahman was also present.
Atiur said it is essential to identify the factors behind the recent progress and take this forward further.
The central bank chief felt the necessity of changing the mindset of the leaders of this region and said: “If we really want to see development in the region and poverty cut, we need to get together.”
Atiur emphasised the unhindered access to trade in the region that, he thinks, will greatly benefit its people.
He said visa-free movement of people within the region can tremendously facilitate these processes, which are much desirable as a medium of term goal for the Saarc region.
According to him, mutually supportive fiscal cooperation during external stress will help pave the foundation for eventual integration in a South Asian economic and monetary union as a prominent hub of global growth.
The central bank governor said financial markets in South Asia have proved to be ill-equipped in intermediating the region’s foreign exchange reserves into investments needed in the region.
“Problems like inadequacy of physical infrastructure and income poverty in large segments of population bedevil most of the South Asian countries,” he added.
Atiur said all the South Asian countries have had useful lessons for each other in approaches to physical and human development, trade, trade, investment and poverty alleviation.
He, however, said the region saw significant headways in several directions, including tariff-free entry of Bangladeshi apparels into Indian market, trans-border movement of goods, free movement of enclave residents and activation of border haats in the past couple of years.
“Progress will hopefully be followed with substantial momentum in intraregional investment in physical infrastructure and manufacturing for markets in the region and beyond,” he told the 4th South Asia Economic Summit on the second day at Hotel Ruposhi Bangla in the morning.
Commerce Minister Faruk Khan was present as the chief guest at the function, organised by Centre for Policy Dialogue (CPD), a civil society think tank.
Experts, economists, academics from South Asian countries took part in the session chaired by former Finance Minister M Syeduzzaman. CPD executive director Prof Mustafizur Rahman was also present.
Atiur said it is essential to identify the factors behind the recent progress and take this forward further.
The central bank chief felt the necessity of changing the mindset of the leaders of this region and said: “If we really want to see development in the region and poverty cut, we need to get together.”
Atiur emphasised the unhindered access to trade in the region that, he thinks, will greatly benefit its people.
He said visa-free movement of people within the region can tremendously facilitate these processes, which are much desirable as a medium of term goal for the Saarc region.
According to him, mutually supportive fiscal cooperation during external stress will help pave the foundation for eventual integration in a South Asian economic and monetary union as a prominent hub of global growth.
The central bank governor said financial markets in South Asia have proved to be ill-equipped in intermediating the region’s foreign exchange reserves into investments needed in the region.
“Problems like inadequacy of physical infrastructure and income poverty in large segments of population bedevil most of the South Asian countries,” he added.
Atiur said all the South Asian countries have had useful lessons for each other in approaches to physical and human development, trade, trade, investment and poverty alleviation.
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