Asia must team up, boost trade to withstand global recession: Atiur
Friday, 31 July 2009
FE Report
Asia needs to increase both regional financial cooperation and trade to withstand the global financial crisis, said Bangladesh Bank Governor Dr Atiur Rahman on Thursday.
"We are thinking of formulating regional financial architecture and increase trade flows to give a boost to the Asian economies," he said at a press briefing after the concluding session of a four-day regional workshop.
The workshop on "Strengthening the response to the global financial crisis in Asia-Pacific: The role of monetary, fiscal and external debt policies" was organised by UN-ESCAP and Bangladesh Bank and was attended by government delegates from 17 countries.
Asian countries have the highest amount of foreign reserve and part of it can be transferred to a fund for the development of the region, he said.
"In Asia some economies are performing well and some are not and big economies can help relatively weaker countries," he added.
The performance of Bangladesh in the time of crisis was highly praised in the workshop and many wanted to know about the fiscal and monetary management of the country, Mr Atiur said.
Asia needs to increase both regional financial cooperation and trade to withstand the global financial crisis, said Bangladesh Bank Governor Dr Atiur Rahman on Thursday.
"We are thinking of formulating regional financial architecture and increase trade flows to give a boost to the Asian economies," he said at a press briefing after the concluding session of a four-day regional workshop.
The workshop on "Strengthening the response to the global financial crisis in Asia-Pacific: The role of monetary, fiscal and external debt policies" was organised by UN-ESCAP and Bangladesh Bank and was attended by government delegates from 17 countries.
Asian countries have the highest amount of foreign reserve and part of it can be transferred to a fund for the development of the region, he said.
"In Asia some economies are performing well and some are not and big economies can help relatively weaker countries," he added.
The performance of Bangladesh in the time of crisis was highly praised in the workshop and many wanted to know about the fiscal and monetary management of the country, Mr Atiur said.