Bangladesh calls for responsible business conduct amid COVID-19 global pandemic

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Ambassador Rabab Fatima Permanent Representative of Bangladesh to the United Nations, New York. File Photo

 

Bangladesh Permanent Representative to the UN Ambassador Rabab Fatima has urged international traders to practice responsible business conduct for securing market access to Least Developed Countries (LDCs) so that they can limit their economic fallout wreaked by the COVID-19 pandemic.

“It (during this pandemic) is no time for economic or trade protectionism. LDCs should be given their previously committed market access,” she said while addressing a virtual meeting on “SDG Financing in the era of COVID 19 and beyond” in New York on Wednesday, 03 June 2020, according to a media release received here today (04 June 2020).

 

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 at a large scale.

Besides, referring to the fall in remittances and challenge of managing returnee migrant workers for countries like Bangladesh, the ambassador called upon the migrant destination countries to ensure the rights of migrants and to keep them in their respective response and recovery plans.

 

Fatima underscored the need for stronger global solidarity and cooperation to overcome this unprecedented crisis that shattered the global economy.

“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 said.

 

The envoy also called for more vigorous efforts to finance climate actions to support the vulnerable countries in building better resilience against any future disaster.

She feared that the SDG implementation plans in many countries are on hold as they are diverting their limited resources to meet emergency health needs as well as to expand the social protection system in the wake of the COVID-19 pandemic.

 

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

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