• Wednesday, Feb 24, 2021
  • Last Update : 11:28 pm

Overcoming Covid-19 impacts in LDCs

  • Published at 04:08 pm June 4th, 2020
Chittagong port
Chittagong port Dhaka Tribune

Dhaka for responsible business conduct, migrants’ protection

Bangladesh has called upon the countries to practise reasonable business conduct and ensure the protection of the migrants to overcome the impact of the Covid-19 pandemic in the least developed countries (LDCs).

“We urge our trading partners to practise responsible business conduct during this crisis. It is no time for economic or trade protectionism. LDCs should be given their previously committed market access,” said Rabab Fatima, Bangladesh permanent representative to the United Nations.

Addressing a virtual meeting titled “SDG financing in the era of COVID 19 and beyond” in New York on Wednesday, she highlighted the challenges of the disrupted global supply chain and its devastating impacts on export in countries like Bangladesh, where factory workers are losing jobs on a large scale, said the Bangladeshi permanent mission on Thursday.

Mentioning the pandemic as a global health as well as an economic and social crisis, Fatima told the participants that the consequences would be borne by the peoples and economies of the vulnerable countries for years to come.

She said the SDG implementation plans in many countries were on hold as they are diverting their limited resources to meet emergency health needs as well as to expand social protection system.

Referring to the fall in remittances and the challenge of managing the return of migrant workers for countries like Bangladesh, she stated that migrants face health, socio-economic and protection crisis. 

She called upon the migrant destination countries to ensure the rights of migrants and to keep them in their respective response and recovery plans.

The permanent representative informed the meeting that the Bangladesh government had announced a $12.1 billion stimulus package, which is 3.7% of its GDP, for various sectors of its economy as well as support measures for different groups. 

She underscored the need for a stronger global solidarity and cooperation to overcome this unprecedented crisis and said that equitable access to finance will also be a vital step to ensure resilient and sustainable recovery from Covid-19.

“Private creditors as well as the idle private capital should be incentivized for investment in the vulnerable developing countries,” she added.

Fatima also called for more vigorous efforts to finance climate actions, which will support the vulnerable countries in building better resilience against any future disaster.

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