Regional coop needed to deal with ongoing economic crisis

Staff Reporter :
The economic cooperation and stability in the South Asian region are needed to deal with the ongoing economic crisis caused by Russia-Ukraine war, experts said.
They said, the Russia-Ukraine war, the dollar crisis, the fuel oil crisis, and commodity transportation disruptions have changed the dynamic of the global economy.
Due to rising inflation and rising prices of daily necessities, the pace of development in the country has to be curbed to some extent and there are many challenges to become a developed country, they said.
So, there is no alternative to regional cooperation and inter-connection between countries to overcome these challenges, they added.
They passed the remarks while speaking at a press conference organised by the Institute of Chartered Accountants of Bangladesh (ICAB) at its head office in the capital.
The press conference was held as the ICAB is going to organise “SAFA International Conference 2022” in Dhaka. Some 30 foreign representatives from SAARC countries including India, Sri Lanka and Nepal will participate in the conference is scheduled to be inaugurated on October 15, the organiser said.
Speaking at the press conference, ICAB President Shahadat Hossain said, “Prosperity as well as economic cooperation and stability are needed for the South Asian region to deal with the ongoing economic crisis. The professional accountants will undoubtedly play one of the roles as in the past.”
“The government is working to strengthen regional cooperation and enhance regional trade and connectivity for sustainable growth. The Padma multi-way bridge is a great example of multi-modal connectivity that will open up new opportunities for regional trade in the country,” he said.
The conference will also play an important role in international business cooperation and promotion of Bangladesh as the best investment destination, he added.
We have many challenges nationally, regionally and globally. But we firmly believe that we can overcome all these challenges through our mutual cooperation, connectivity and unity, he said.
He further said that these conferences and seminars with SAFA member countries will create great opportunities to exchange
ideas, experience and above all build strong friendships with professional accountants, including those from the South Asian region.
The theme of this year’s SAFA International Conference has been selected as “Regional Connectivity for Sustainable Growth.”
Commerce Minister Tipu Munshi, will announce the inauguration of the conference while State Minister of Planning Dr Shamsul Alam and former Governor of Bangladesh Bank Dr Atiur Rahman will present on the conference.
Among others, Chairman of SAFA International Conference Parveen Mahmud and ICAB CEO Shubhashish Bose spoke on the occasion.
ICAB is organising this conference with the aim of accelerating the economic progress of the country. The International Conference of South Asian Federation of Accountants (SAFA) to be held in Dhaka will create an area of regional cooperation for sustainable development. To ensure our growth, ICAB emphasised sustainable reporting and financing.