CA calls for matrix of Asian economies

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Chief Adviser Fakhruddin Ahmed Friday called for joint efforts of the Asian countries to advance their common development goals to create a more cohesive and productive matrix of Asian economies, reports UNB.
He also stressed the need for economic integration to promote greater stability saying that economic linkages across countries were a reality.
"Economy is a field which encourages mutual benefit through cooperation. So, we would do well to leverage global economy to promote growth," the head of the caretaker government said at an international business conference.
He mentioned that benefit of integration could be seen in the successes of several such moves as European Union and the free trade bloc NAFTA.
"Perhaps, it's now time for Asian countries to join together to further their common development goals to create a more cohesive and productive matrix of Asian economies," he said.
Referring to the current global economic slowdown, Dr Fakhruddin said it might very well put a dent into an economy like Bangladesh. As a small economy, he said, "We are particularly vulnerable to the impact of international development. So, we must work together to minimise the impact of current global slowdown here at home."
The Chief Adviser inaugurated the two-day DCCI International Business Conference to celebrate 50 years of Dhaka Chamber of Commerce and Industry (DCCI) at the Bangladesh-China Friendship Conference Centre in the city.
The theme of the conference is: The Next Fifteen Years, A Vision for Growth.
More than 200 foreign delegates and business leaders from about 25 developing and developed countries are participating in the conference.
Export Development and International Trade Minister of Sri Lanka GL Peiris, Indian State Minister for Commerce Jairam Ramesh and UNCTAD Secretary General Supachai Panitchpakdi also joined the inaugural session.
Business leaders and entrepreneurs from home and abroad and government officials, among others, were present at the inaugural session.
Finance Adviser Mirza Azizul Islam, Commerce Adviser Hossain Zillur Rahman, President of International Chamber of Commerce, Bangladesh (ICC,B) Mahbubur Rahman and DCCI President Hossain Khaled also spoke at the function.
Addressing the function, the Chief Adviser said economies of the world are increasing linkages to one another. Spillover effect from one economy could ripple through others through these linkages that have been witnessed in recent weeks and days.
He said every country's economic matters and drivers such as commodity prices, finance and technology simultaneously impact on multiple countries. "Environmental issues by the very nature respect no borders and will continue to have a greater impact on global economy going forward."
Dr Fakhruddin said economic growth and development remain a paramount importance as countries like Bangladesh seek to improve living standard of citizens by better using the mighty engine of trade to advance the development goals.
He said the greatest untapped natural resources in the world - human capital - and improving the productivity of individual through education, training and technology was a tremendous powerful lever for economic advancement not just within a given country but across countries as well.
To meet the development objectives, he said it was a must to identify synergies between and among economies, which deepen economic linkages and investment in infrastructure that straddled borders and leverage trade as powerful engine of growth and opportunity.
Later, the Chief Adviser released a commemorative stamp marking the DCCI golden jubilee.
Dr Fakhruddin said the question remained "how can we trigger growth that was deep and wide in its dimensions yet sustainable."