Dhaka, Bangladesh (BBN)– Finance Minister Abul Maal Abdul Muhith on Sunday delivered the keynote address at the country consultations of Asian Development Bank’s (ADB) ongoing flagship study “Asia 2050”.
The meeting, jointly organized by the Economic Relations Division of the Ministry of Finance and ADB, was attended by key policymakers, academics, researchers and private sector officials.
Rajat M. Nag, Managing Director General of ADB, welcomed the discussants and introduced the study. Mashiur Rahman, Adviser to the Prime Minister for Economic Affairs moderated the discussion. Sultan Hafeez Rahman, Director General of ADB’s South Asia Regional Department wrapped up the discussions and M. Musharraf Hossain Bhuyian, Secretary, Economic Relations Division, Ministry of Finance delivered vote of thanks.
Mr. Nag said Asia’s coming together and rise as an economic powerhouse over the past 40 years is one of the most successful development stories of the modern era—prompting many to say that the 21st century belongs to Asia. However, he warned that resurgence of Asia is not preordained.
Finance Minister Muhith highlighted that reducing inequality, both within and across economies, improving human development, tackling resources constraints – particularly energy and connectivity, enhancing level of governance as key challenges facing developing Asia.
The “Asia 2050” study will look at where the region might be in 40 years if it makes the right policy choices to meet both present and future challenges. The study will lay out multi-generational challenges and recommend adoption of specific policy reforms and strategies at the national, regional, and global levels.
ADB has held similar consultation seminars in the People’s Republic of China, Indonesia, Republic of Korea, Japan, Viet Nam and India.
BBN/SI/AD-20Mar11-8:56 pm (BST)