‘Bangladesh is top 5 tolerant economies despite adversity’
Despite the adversity of corona, Bangladesh is among the top five tolerant economies. This position of the economy of Bangladesh has come up in the surveys of several international organizations.
Finance Minister AHM Mustafa Kamal made the remarks in a virtual speech at the Commonwealth Trade and Investment Summit on Monday (September 13).
He said the global economy had shrunk by 3 per cent last year due to the pandemic, while the Commonwealth economy had shrunk by about 10 per cent.
At the conference, leaders of various countries are trying to find ways and means to recover the damaged economy by increasing trade and investment among the Commonwealth countries.
The finance minister said that according to the October 2020 report of the IMF, the world economy was growing at an average of 4.4 percent. At this time, Bangladesh is one of the few positive growth economies.
Foreign direct investment in the world fell by 42 percent in 2020, according to a report by the UN trade body UNCTAD. The Commonwealth economies in Asia and the Pacific have suffered more than 50 percent.
Highlighting Bangladesh's response to the effects of the corona pandemic, the minister said 28 incentive packages worth 22.08 billion dollar, equivalent to 6.23 percent of GDP, have been announced to revive the economy. Bangladesh continues to enjoy the benefits.
He added that according to the October 2020 report of the IMF, Bangladesh is one of the few positive economies in the pandemic. According to surveys by several international organizations, Bangladesh is among the top five tolerant economies despite the pandemic.
The meeting was addressed by Lord Marland, Chairman of the Commonwealth Trade and Investment Council and Elizabeth Truss MP, Minister for International Trade and Chairman of the Board of Commerce. They all hope to work together to find ways and means to recover the damaged economy by increasing trade and investment among the Commonwealth countries.