Momen calls for global cooperation to fight economic fallout

Foreign Minister Dr AK Abdul Momen called for global cooperation in the ongoing fight against the Covid-19 pandemic and economic recovery

His call came in a statement at the Virtual Covid-19 Global Action Plan (GAP) Foreign Ministerial Meeting, jointly convened by Japanese Foreign Minister Hayashi Yoshimasa and the US Secretary of State Antony J Blinken, on Tuesday, said a Foreign Ministry press release.

Momen said economic recovery remains at the core of fighting the pandemic as the fear of Covid-induced stagflation caused an exodus of funds from the developing economies at a time when they need significant investments.

To support their economic recovery, he urged the advanced countries and global financial institutions to enhance the flow of concessional loans, including in the healthcare sector; increase financing in low-carbon developments and transfer green technologies to build back better.

Momen highlighted Bangladesh's “tremendous success” in Covid management centred on saving lives, supporting livelihoods, especially of the most vulnerable ones, and posting quick economic recovery under the leadership of Prime Minister Sheikh Hasina.

He also stated that Bangladesh achieved the WHO target of vaccinating 70% of the total population ahead of the deadline.

“Being ranked fifth out of 121 countries in the Nikkei Covid-19 Recovery Index of May 2022 was a reflection of Bangladesh's outstanding success in Covid management,” he added.

Mentioning that the Covax mechanism has proved the efficacy of multilateral mechanism, Momen stressed taking such kind of several global actions to fight the pandemic.

He further stressed enabling countries of the global south like Bangladesh with a relatively advanced pharmaceutical manufacturing base to build their own capabilities of manufacturing vaccines, testing and therapeutics products through appropriate provisions in IPR and technology transfer.

He also emphasized strengthening the national disease control agencies, particularly in dealing with new variants, with the help of the WHO and advanced countries.

Finally, he flagged the need of forming a high-level panel of global leaders with gender and geographical balance to devise a blueprint for better global health architecture.