Bangladesh calls for LDC representation at economic summit

November 16th, 2008 - 8:29 pm ICT by IANS  

Dhaka, Nov 16 (Xinhua) Bangladesh Sunday called for representation of the world’s least developed countries (LDCs) at global economic summit in future.Speaking to journalists here, the caretaker government’s foreign adviser Iftekhar Ahmed Chowdhury welcomed the inclusion of developing countries like Brazil, China and India in the G-20 summit held in Washington of the United States to address the current global economic crisis.

“There is a huge chunk of people from LDCs, who are being left out. Their impediments to development are structural, and unless these are removed by consultations among top global leadership, millions of the world’s poorest will continue to suffer,” he said.

The adviser said: “What the global leaders presented at the summit are ideas and ideas are not monopoly of the rich”.

“In fact thoughts and concepts like micro-credit and non-formal education emanating from Bangladesh are really changing the world,” he said.

Referring to the global financial crisis, he said Bangladesh has largely managed to escape its worst effects so far.

“This is because our banking system is indeed better regulated with adequate capital-asset ratio, and our real economy is engaged in sectors that are so far insulated,” he said.

“But we cannot remain complacent because we live in an interdependent, globalized world. The government has to remain ever vigilant with appropriate policy response as and when need arises,” Chowdhury said.

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