Recently, the second part of the Fifth UN Conference on the Least Developed Countries (LDC5) took place in Doha, Qa- tar which included high-level roundtables on specific topics, a general debate, and other events. Our Honorable Prime Minister Sheikh Hasina attended the conference on LDC5 scheduled from 4th to 9th March 2023. The premier also joined several side-line events, a civic reception and met with her Qatari counterpart during the four-day visit to Doha, Qatar.
WHAT IS LDC5 CONFERENCE?
The UN’s once every ten years Least Developed Countries conference was held in Qatar from March 5 to March 9. Over the course of five days, the United Nations convened the Least Developed Countries (LDC5) Conference by bringing together world leaders with the commercial sector, civil society, parliamentarians, and young people to push new ideas, generate new pledges of assistance, and encourage delivery on agreed commitments, as outlined in the Doha Plan of Action (DPoA). In terms of human development, 46 countries qualify as LDCs.
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WHAT HAD HAPPENED IN THE LDC5 CONFERENCE?
The theme of the conference was “LDC5: From Potential and Prosperity.” Global leaders had met in Doha, Qatar, for a major United Nations conference aimed at accelerating sustainable development in areas where international aid is most required to unleash the full potential of the most vulnerable nations and put them on the path to prosperity. During the five-day conference, specific initiatives and real outcomes ad- dressing LDC-specific concerns were announced. The conference had included plenary sessions, parallel high-level subject round-tables, and a variety of parallel and side activities on the diverse thematic goals of the DPoA.
LDC5 AND BANGLADESH PRIME MINISTER SHEIKH HASINA
With her eloquence, Prime Minister Hasina has proven that she is a leader not just for Bangla- desh’s 170 million people, but for the 1.1 billion people who live in the world’s least developed countries (LDCs). The Prime Minister of Bangladesh not only represented Bangladesh but also the LDCs at this significant meeting, which was held in the midst of ongoing economic challenges and geopolitical tensions in various regions of the world.
The Prime Minister spoke at a number of high-level side events that played a crucial role in sharing Bangladesh’s narrative. She spoke at events such as “Sustainable and Smooth Transition for the Graduating Cohort of 2021” organised by the three Asian countries— Bangladesh, Nepal, and Lao PDR, the Business Summit on “The Rise of Bengal Tiger: Potentials of Trade & Investment in Bangladesh”, and attended a high-level roundtable titled “Enhancing the participation of Least Developed Countries (LDCs) in International Trade & Regional Integration”.
HPM Sheikh Hasina joined two important events- “Global Partnership for Smooth and Sustainable Graduation: Marching towards Smart Bangladesh”, and “Investment in Research and Development in LDCs for Smart and Innovative Societies” as the chief guest. The topics of these high-profile meetings, events, and programs demonstrate that Bangladesh has made significant gains in showcasing its accomplishments and capabilities to the international community.
“Enhancing the participation of Least Developed Countries (LDCs) in International Trade & Regional Integration”
In addition, HPM Sheikh Hasina met with several leaders, including the emir of Qatar, Sheikh Tamim bin Hamad Al Thani, the chairperson of the Qatar Foundation, Sheikha Moza bint Nasser, the secretary general of the United Nations, Antonio Guterres, and the president of the United Nations General Assembly, Csaba Korosi.
HPM HASINA CALLS FOR PROLONGING PREFERENTIAL MARKET ACCESS FOR GRADUATING LDCS
Sheikh Hasina, prime minister of Bangladesh, pushed for a six-year extension of preferential market access for graduating LDCs like Bangladesh as she presented a five-point suggestion to development partners on the sidelines of the LDC5 meeting. It was dis- cussed at an event entitled “Global Partnership for Smooth and Sustainable Graduation: Marching Towards Smart Bangladesh.” “I wish to make five suggestions for our development partners and firstly for extension of preferential market access for graduating LDCs like Bangladesh for at least six years; and, supporting their trade facilitation and capacity building, including through aid- for-trade,” she said. In her second proposal, she advocated increasing FDI in graduating LDCs by private sector incentives and by revising investment protection agreements that are mutually advantageous.
Thirdly, she advocated for fostering sustainable industrial growth in newly independent LDCs by helping the private sector there better manage resources, foster better working conditions for workers, and charge reasonable prices. The fourth suggestion made by the prime minister was to create new finance arrangements to keep the cost of borrowing low enough during the transition phase for former LDCs.
Financing sustainable physical and digital infrastructure projects in emerging LDCs; and encouraging ongoing investment in human capital building and institutional reforms was the focus of her fifth and final recommendation. “We look forward to building a knowledge-based, developed and smart Bangladesh by 2041. Our private sector and social partners will have to play a prominent role in this journey,” she said.
EMPHASIZING ON THE NEED OF INTERNATIONAL COLLABORATION
According to HPM Sheikh Hasina, the average R&D expenditures of LDCs remain below 0.6% of their GDP, and just a handful of them are included in the World Innovation Index. “But, LDCs cannot afford to lag behind with the advent of the Fourth Industrial Revolution,” she said, adding, “Our young people should be made part of the Future of Work. We need meaningful global partnership for that.” Talking about Bangladesh, HPM Hasina remarked that the government’s emphasis on supporting agricultural research has enabled Bangladesh to battle hunger and become essentially self-sufficient in food.
“We are investing further in making our agriculture and livestock smart and environment-friendly. We stand ready to share our good practices with other LDCs through various means, including contract farming,” she added. Sheikh Hasina stated, in reference to the government’s current emphasis on expanding the scope of medical research, that the effects of climate change on public health are evident through the emergence of new disease burdens. “We must have international collaboration for research in neglected tropical diseases,” she said, adding, “We urgently need investments in developing new treatments for antimicrobial resistance”.
REPRESENTING BANGLADESH WITH THE DREAM OF “SMART BANGLADESH”
Bangladesh will graduate from the UN LDC Group in 2026 thanks to 168 million people and government’s hard work. Our HPM has represented Bangladesh as a progressive nation in front of the global leaders. According to HPM Sheikh Hasina, the country’s economy saw growth rates as high as 8.15% immediately before the epidemic and as low as 6.94% even during it.
With a GDP of USD 460 billion, Bangladesh’s economy is now ranked 35th in the world. By the first half of the 2030s, it is ex- expected to rise to the 24th position. “It was during my first tenure in 1996-2001 that our government fully opened up the door of trade and business for the private sector. Now our private sector is flourishing and our government is working as a facilitator. Together, we hope to take Bangladesh to the next level of development,” the PM said.
Prime minister Sheikh Hasina remarked in the session that Bangladesh would graduate from the LDC status in 2026. “Bangladesh is the only LDC among the world’s 50 largest economies in terms of GDP. Our march towards graduation is also marked by our efforts at just, inclusive and sustainable development,” she added.
Sheikh Hasina said her government reduced poverty from 31.5 to 20% in a decade. She explained that the government had already provided energy and internet access to the entire country, while Bangabandhu-I, the nation’s first communication satellite, had opened up new horizons. ‘We have a large pool of easily trainable workforce available at a competitive wage,’ she said, adding, ‘Bangladesh has got the world’s second-largest community of registered IT freelancers.’ She noted that Bangladesh had made significant strides in building its digital infrastructure all the way out in the hinterlands. ” Our boys and girls are preparing themselves to join the Fourth Industrial Revolution,” she remarked.
The HPM mentioned that 38 Hi-tech Parks were being built for foreign investment. According to her, the current government objective was to create a Smart Bangladesh by 2041, utilizing the strength of a knowledge-based society.
ENSURING EDUCATIONAL AID FOR BANGLADESH
HPM Sheikh Hasina also met with Sheikha Moza bint Nasser, Chairperson of Education Above All Foundation and Silatech Organization. At the discussion, topics like the EAA projects in Bangladesh and ways to collaborate with Silatech in the areas of employment and vocational training were discussed. Bangladesh and Qatar signed a Memorandum of Understanding (MoU) for the project Education Above All Foundation.
Moreover, as part of Qatar’s commitment to international cooperation under the Qatar national vision 2030, the Qatari government aspires to provide educational aid to the LDCs in order to fulfill its SDGs-2030.
Hence, Qatar would give Bangladesh 1.27 million US dollars to help the country’s education system by providing more options for the 0.65 million primary school-aged children who are not already enrolled.
BANGLADESH-QATAR BUSINESS FORUM FOR ECONOMIC PARTNERSHIP
Prime Minister Sheikh Hasina believes that a joint trade and investment committee would unite the private sectors of Bangladesh and Qatar for a mutually beneficial economic partnership. “Our two nations need to reposition our ties based on a mutually beneficial economic partnership,” she told at Doha Investment Summit themed “The Growth of Bengal Tiger: Potentials of Trade and Investment in Bangladesh”. The premier also invited a Qatari business team to Bangladesh and encouraged non-resident Bangladeshis in Qatar to invest in Bangladesh to help strengthen the nation.
As her government is receptive to infrastructure and logistics investment offers, she urged Qatari businesspeople to look into thrust industries in Bangladesh. Sheikh Hasina said Bangladesh had one of the region’s most liberal investment regimes. She noted that the Bangladesh Investment Development Authority (BIDA) was providing a variety of services to foreign investors under one roof, and her government was building 100 Special Economic Zones with integrated facilities and five country-specific Economic Zones.
CALLING FOR ENERGY SECTOR INVESTMENT IN BANGLADESH
asked Qatar to invest in Bangladesh’s energy sector, particularly renewable energy. ‘We remain open to investment proposals in our infrastructures and logistics sectors. We believe there is scope for Qatari investment in the energy sector, including in renewable energy,’ she said. Sheikh Hasina noted that Qatar’s expertise in offshore gas extraction and energy distribution networks might boost Bangladesh’s energy sector, including renewable energy. Bringing up Bangladesh’s agricultural expansion, she claimed that it also opens up opportunities for collaboration in the agro-processing sector, with buy-back agreements to Qatar. “Bangladesh aspire to have at least ten Unicorns in ‘Smart Bangladesh,’ and its vibrant start-up scene is ready to draw Qatari investment,” she remarked.
South-South cooperation:
While the industrialized countries do not provide the assistance they promised, Sheikh Hasina has urged that the UN create an international forum with participation from South-South countries to identify possibilities and actions for the welfare of the peoples.
Taking stand for graduating LDCs:
In a separate discussion with UNDP administrator Achim Steiner at the QNCC’s Bilateral Conference Room, the prime minister asked the UNDP to lead so that countries graduating from LDCs would not lose all international benefits at once. According to her, those who graduate from LDCs face punishment by losing access to all services and benefits. “We should be rewarded for our good performance, but you are giving punishment. UNDP should take a lead,” said the prime minister.
Climate change and migrated workers’ protection:
The LDCs are severely impacted by climate change, as highlighted by Bangladesh’s prime minister. She stated that the government has developed many climate adaption measures, including technological solutions. She called for the tangible and genuine transfer of technology to these nations as well as the safety of migratory workers. According to her, migrant workers must have protection for their rights and general welfare. “We cannot fail the 226 million youth in LDCs,” she added.
Encouraging the developed nation in keeping the promises and agreements:
Although the Least Developed Countries (LDCs) do not seek charity, Prime Minister Sheikh Hasina has urged the international community to fulfil its international obligations and reaffirm its dedication to bringing about structural change in the LDCs. “Our nations do not ask for charity; what we seek are our dues un- der international commitments,” she said while ad- dressing the opening Plenary Meeting of the LDC5. She suggested that graduating LDCs should receive performance incentives and extended international support. “They need enhanced investments and know-how to build their productive capacities. There can be some innovative and transitional financing mechanisms meant for them,” she said. She also gave the developed countries assurances that the LDCs would uphold their end of the arrangement. The PM stated that while ODA targets for LDCs from developed countries should be met, LDCs require ongoing support in order to double their share of global commerce. “International Financial Institutions have the means to support debt sustainability in LDCs,” she said.
Urging UN to take measures to stop Ukraine-Russia war & solve Rohingya crisis:
Prime Minister Sheikh Hasina has asked the UN to adopt specific and effective measures to stop the Ukraine-Russia war as soon as possible during her visit to Doha. “We are suffering a lot as a result of the war. Inflation has increased, especially due to non-arrival of goods for sanctions. People are suffering a lot be- cause of this (war), people are suffering all over the world. The war needs to stop as soon as possible,” she said.
She added that the nations benefiting financially from the conflict should aid those nations in lessen- ing their pain.
The prime minister encouraged the UN Secretary General to take exceptional measures to allow the citizens of Myanmar to return to their country while discussing the Rohingya crisis. She mentioned the steps taken by her administration to relocate 30,000 Rohingyas to Bhashan Char and asked the Secretary General to help relocate more Rohingyas there. The Prime Minister and UN Secretary General both agreed that whether or not there is political change in Myanmar, the Rohingyas must return there as quickly as possible.
Bangladesh’s bilateral and multilateral diplomacy has gained new drive thanks to the Prime Minister’s Qatar visit for the LDC5 and for bilateral meetings with the Emir of Qatar and other prominent dignitaries. In her diplomatic efforts, Prime Minister Sheikh Hasina has emphasised the value of ensuring the welfare of the people. She also asked for assistance from development partners to create knowledge-based, innovative, and advanced societies in LDCs in order to advance a world that is peaceful, equitable, and inclusive.
