UNB, Dhaka
UNDP Assistant Secretary General Ajay Chhibber on Tuesday said although the impact of global economic meltdown on Bangladesh has so far been limited but it could be strongly felt in the future as the international news about the current recession gets worse everyday.
“Hope for the best but be prepared,” he told a pre-departure press conference in the morning capping his five-day visit to Bangladesh. UN Resident Coordinator Ms Renata Lok Dessallien was present.
Chhibber said that since the exposure of Bangladesh to international financial factors is much smaller than other countries, the first round of the impact has not been so strong on Bangladeshi banks and stock markets.
But, the UN official said the impact on Bangladesh’s neighboring countries like China, India, Vietnam and Indonesia is much higher.
He feared that the impact of the international economic crisis in the next round might be greater on Bangladesh as its exports mainly garments are largely to developed nations. Chh-ibber said Bangladesh produces low cost garments but if there is reduction in the demand on the international market it will lead to reduction in all Bangladesh exports.
Besides, he said, Ban-gladesh also largely depe-nds on remittances of workers but he got the indications that less workers are now going abroad and some workers are also coming back.
“If remittances are affected it will have economic implications and it will also have social implications,” he said. Chhibber, who had been here on a 5-day visit, met with Prime Minister Sheikh Hasina, Finance Minister AMA Muhith Foreign Minister Dr Dipu Moni and economists discussing, among other issues, the possible impact of the economic crisis and climate change.
He praised Bangladesh’s new government’s emphasis on the agriculture sector that employs a bulk number of the people. He said it is important to give more stress on improving social sectors and small and medium enterprises within Bangladesh. Assuring the UN support to businesses and people, he said the UN would continue its ongoing social programs and try to introduce new ones in this country.
Asked if the UN development programs would be squeezed in the wake of the economic crisis, Chhibber said he did not get a sense of such reduction, rather he urged the developed countries to give greater assistance to Bangladesh to face the development challenges. On the adverse impact of the climate change, Chhibber who went to cyclone Sidr affected Satkhira and Barguna districts said he was impressed by the people’s resilience and fortitude.
He said Bangladesh has developed strong disaster management systems, which have saved many lives. Other countries could learn from Bangladesh’s ability to both prepare for and respond to natural disasters.
Since the climate change will be a growing challenge in coming years, the UN official said Bangladesh should remain active in the international debate on climate change and can take leadership role among the most affected developing nations.
Courtesy of www.thebangladeshtoday.com
