Commerce secretary pledges to work together with CFC countries to counter Covid-19
The Common Funds for Commodities, formed in 1989 to develop the commodity market, currently has 101 member countries
Commerce Secretary Dr Mohammad Zafar Uddin has expressed his determination to work together with the Common Funds for Commodities (CFC) countries in the production and commercialisation of products of developing countries to tackle Covid-19, highlighting the need to keep the production and supply of medicines and life-saving products for CFC countries active during the Covid-19 pandemic.
Due to digital inequality, countries ready to cross over from LDCs and LDCs are losing a fair market value in buying and selling their products. At the same time, global warming and climate pollution are increasing in the production of goods, said Mohammad Zafar Uddin, also the governor of CFC, while presenting the National Statement of Bangladesh at the 32nd Annual General Meeting of the CFC Governing Council in The Hague, the Netherlands on 6 and 9 December.
Bangladesh will move from a least developed country to a developing country in 2024 as the progress of economic and social development of Bangladesh has increased satisfactorily under the strong leadership of Prime Minister Sheikh Hasina, the commerce secretary added.
Keep updated, follow The Business Standard's Google news channel
Mentioning that Bangladesh is working to achieve the Sustainable Development Goals-2030 addressing the challenges, he talked about the various initiatives taken by the government of Bangladesh in the fight against Covid-19 and pledged to work together with the CFC member countries.
Dr Zafar informed the meeting Bangladesh has already ratified Cross Border Paperless Trade to keep the import and export of goods produced by the least developed countries active.
He said further the government of Bangladesh has always attached importance to the private sector in product based economic development, especially in the development of small and medium entrepreneurs.
He made some recommendations for Bangladesh at the CFC meeting. He called for the adoption of Green Worth Framework of Agriculture by CFC, effective measures to eliminate digital inequality and provide financial and technical assistance to LDCs to address the complexities created by Covid-19 in the production, processing and supply systems.
He noted that in addition to CFC's funds, it could take effective action in coordination with international aid development partners.
The two-day virtual meeting was chaired by Argentine Ambassador to the Netherlands Mario Oyarzábal. Sheikh Mohammad Belal, managing director, CFC delivered the inaugural address.
The CFC, formed in 1989 to develop the commodity market, currently has 101 member countries.
