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Dhaka: Bangladesh is working to build a strong manufacturing network with South Asian countries while positioning itself as a global manufacturing hub and export gateway, said Prime Minister’s Adviser on Finance and Planning Professor Dr Rashed Al Mahmud Titumir.
He proposed establishing an integrated manufacturing network linking South Asia, Southeast Asia, the Middle East and North Africa, saying cooperation between Bangladesh and Pakistan could set a new example for the region.
Titumir said the initiative could play an important role in promoting inclusive and sustainable development across South Asia by helping restore normal production flows and address the long-term adverse effects on global manufacturing structures.
He made the remarks as the guest of honour at the inaugural session of the 29th Sustainable Development Conference, organised by the Sustainable Development Policy Institute (SDPI) in Islamabad, Pakistan, on Monday (November 2).
The Ministry of Finance disclosed the matter in a press release on Tuesday (November 3).
Titumir said developing countries should focus on attracting investment that builds domestic capacity, facilitates technology transfer and creates employment opportunities.
He also said Bangladesh planned to increase public expenditure on education from around 2 per cent of gross domestic product (GDP) at present to 5 per cent by 2030.
Referring to the challenges of addressing the global economic downturn and ensuring balanced development, he said the government was implementing various social protection programmes, including the Family Card and Farmer Card initiatives.
He expressed hope that these initiatives would help the country overcome prolonged economic difficulties and poverty caused by war, the energy crisis and the economic mismanagement of the previous government.
Pakistan’s Federal Minister for Planning, Development and Special Initiatives, Professor Ahsan Iqbal, delivered the keynote paper at the conference.
The four-day conference will feature around 50 panel discussions and plenary sessions. More than 300 development experts and prominent figures from political and social fields are expected to speak at the event, including over 100 women.
Participants from South Asia, Southeast Asia, China and other parts of the world are attending the conference.
