Dhaka, Bangladesh (BBN)– Terming the ACU (Asian Clearing Uion) member countries as a significant collective global growth hub, Bangladesh Bank Governor Atiur Rahman said the ACU needs to deepen further the regional trade and economic integration for inclusive and environmentally sustainable growth.
"We, ACU member countries, are already collectively a significant global growth hub, we can heighten this significance much further by deepening regional trade and economic integration in pursuit of inclusive and environmentally sustainable growth," said the governor while speaking at the ACU Board of Directors meeting at Kish Island, Iran on Friday.
Vice President of Islamic Republic of Iran. Dr. Mohammad Bagher Nobkht inaugurated the meeting with Governor of Central Bank of Iran Dr. Valiollah Seif in the char.
“Bangladesh’s increasing external openness is reflected, as elsewhere, also in the 2013 data on ACU transaction settlements. Her trade settlements with other ACU member trade partners increased 8.77 percent in 2013 even as total ACU intraregional trade settlements declined 7.53 percent that year,” the BB governor said.
He also Bangladesh’s imports from other ACU members increased to US$ 4.92 billion in 2013 from $ 4.45 billion of 2012; while exports to other ACU members declined to $ 113 million in 2013 from $176 million of 2012.
“Bangladesh’s exports to the rest of the world sustained double digit growth rate in 2013, and we would love to see rising trend in our exports to the ACU region,” Dr.Rahman noted.
He also said: “To this end we would welcome investors from regional partners in establishing cost efficient manufacturing bases in Bangladesh producing for local regional and global markets. It is heartening to see the beginnings of easing of US sanctions on engagements with Islamic Republic of Iran, a big impediment holding back flourishing of ACU intraregional trade and investments.”
BBN/SSR/AD-23May14-9:14 pm (BST)
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