Partnerships will drive the economy

22 Sep 2020 11:17 AM
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Bangladesh must continue being pro-active and strategize so as to drive its economy through novel situations

The news that the UK Export Finance (UKEF) has a lot more than doubled its capacity for Bangladesh to £2.5 billion is welcome news, and demonstrates developed nations like the UK continue steadily to see Bangladesh in a positive light as a viable partner for trade.

There is little doubt that Bangladesh has been a tremendous success story as far as economic development can be involved; in the last decade or so we have consistently registered among the highest GDP growth rates on the globe, which is a testament to your capacity to perform when confronted with the severest constraints.

However, Bangladesh continues to have extremely ambitious goals for the short-term and the future, while also displaying massive potential for further economic growth. Prior to the current pandemic brought the global economy to an abrupt and devastating halt, Bangladesh was seeking to ascend towards reaching double digit growth rates, which is still not outside of its scope to attain.
However, for that to transpire, Bangladesh must continue being pro-active and strategize to be able to drive its economy through novel situations. For the reason that light, it really is partnerships including the one with the UK, that'll be integral for the country moving forward.

These are the sort of partnerships and trade opportunities that must be pursued; as an economy seeking to graduate to a middle-income country from an LDC, as we lose the huge benefits afforded to the LDCs, our alliances with other economies is a major contributor towards ensuring that Bangladesh fulfill its potential and be the major financial force everyone anticipates it to be.