Prime Minister emphasized on collective efforts for sustainable global economic growth

Jan 12, 2023 - 12:40

Prime Minister Sheikh Hasina put six proposals before the G20 alliance, saying that they need to be solved collectively for sustainable global economic growth and development of the 'Global South'.

Today Thursday, the Prime Minister attended the opening ceremony (Inaugural Leaders Session) of the 'Voice of the South Summit 2023' held in New Delhi, India and delivered this speech virtually from the Gana Bhavan.

"Given the current global economy (in the context of the Russia-Ukraine war and the Covid-19 pandemic) - now is the time to collectively work towards a fair and sustainable economic system," he said.

Prime Minister Sheikh Hasina thanked the Government of India for inviting Bangladesh as a guest country in this important summit, saying that this conference will provide them with a unique opportunity to engage with their counterparts around the world.

In this context, he said, Bangladesh as a country of the Global South welcomes India's vision as the President of G20 to ensure inclusive development under the concept of 'One Earth, One Family, One Future'.

"Let us work together for a better future and a better world," he added.

In his first proposal to achieve sustainable global economic growth, he said, world peace and stability must be maintained in the larger interest of humanity.

Second, he says, a new paradigm is needed that tackles inequality holistically in parallel with the SDGs.

The Prime Minister said, thirdly, the most vulnerable countries, including least developed countries, climate risk countries, need special financing, which should be met during their transition.

In her fourth proposal, she emphasized the need to bridge 'digital divides' to ensure equal opportunities for all, including women. Take advantage of the fourth industrial revolution by investing in the young population for which financing and technology transfer support is essential, he added.

Fifth, he said, all people should have an equal right to live well.

He said, 'The global community should not forget to ensure the return of Myanmar citizens who have unfortunately been forcibly displaced.'

The Prime Minister said, strengthen South-South and Tripartite cooperation to ensure global human development. Here, support from partners, international financial institutions, the private sector, think-tanks and other stakeholders is crucial.'

Sheikh Hasina also said that almost five decades ago, Father of the Nation Bangabandhu Sheikh Mujibur Rahman called for creating a sense of urgency to build an equitable international economic system in the face of the 'great economic boom'.

Prime Minister congratulated Indian Prime Minister Narendra Modi and Government of India on taking charge as G20 President.

He also congratulated Prime Minister Narendra Modi for convening the 'Voice of the South Summit' and inviting him to the inaugural Leaders' Session on 'People-Centred Development'.

Sheikh Hasina said that in Bangladesh, they believe in the true value of human development as the pillar of sustainable development and this is reflected in their policies.

He said, 'We are committed to contribute to His Excellency's (Modi's) vigorous initiative to accelerate people-centred development in collaboration with world leaders.'

The Prime Minister said the recent Covid-19 pandemic and the ongoing Russia-Ukraine war over sanctions and counter-sanctions have created havoc across the world.

He also said that global recession, food, fuel and fertilizer shortages have added to the growing effects of climate change, making people's lives unbearable.

'Addressing this challenge requires bold, decisive and coordinated action at the global level where human leadership is key.

Quoting Father of the Nation Bangabandhu Sheikh Mujibur Rahman from his maiden speech at the UNGA in 1974, he said, 'There is an international responsibility - to ensure the right of everyone to a standard of living adequate for the health and well-being of himself and his family.'

This view is still relevant today. Keeping this spirit in mind, we are doing our best to ensure inclusive development with people at the centre, he added.

He said that in the last decade, Bangladesh has achieved rapid economic growth by ensuring social justice for all.

"Bangladesh is recognized as one of the fastest growing economies in the world," he said.

The Prime Minister said that the poverty rate in Bangladesh has come down from 41.5 percent to 20 percent in the last 14 years, while the per capita income has tripled in just one decade.

He said Bangladesh has fulfilled all the conditions to be promoted from LDC level to developing country.

"It is gratifying that Bangladesh has been ranked as the 5th best Covid resistant country in the world and the best performer in South Asia," he said.

For financial and other incentives, 28 packages worth more than USD 2 crore have directly reached 73 million people and 213 thousand organizations, he said.

He said, "We aspire to build a 'Smart Bangladesh' with advanced physical infrastructure as the foundation of a strong economy."

He said that last year, they inaugurated the self-financed Padma multi-purpose bridge which will increase the GDP.

The Prime Minister said that a few days ago, Bangladesh launched the first metro rail service in the capital Dhaka.

He said, very soon we will complete the work of 3.2 km Bangabandhu Sheikh Mujibur Rahman Tunnel under the Karnaphuli River in Chittagong, which is the first in South Asia.

Meanwhile, he also noted that Bangladesh's ongoing 'Shelter Scheme' has provided free housing and livelihood to 3.5 million people.