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Bangladesh Pitches for Common Currency for South Asia
Source: http://www.unbconnect.com
Source Date: Saturday, May 04, 2013
Focus: Electronic and Mobile Government, ICT for MDGs, Knowledge Management in Government
Country: Bangladesh
Created: May 07, 2013

Bangladesh has pitched for a common currency for South Asia to promote trade and investment and facilitate greater economic integration within the region.

 

"A common currency is the need of the hour in South Asia to promote trade and investment. Introduction of such currency will facilitate greater economic integration within the region," Bangladesh's Finance Minister Abul Maal A Muhith said in New Delhi on Friday.

 

He was addressing the media on the sidelines of CII session on boosting sub-regional development through investment and trade. Muhith is in New Delhi to attend the 46th Annual Meeting of ADB in Greater Noida, reports The Economic Times.

 

He also said India and Bangladesh should take the initiative for the common currency.

 

Replying to questions on impact on garment industry in Bangladesh after the recent incidents of building collapse and fire, he said the government is attending to the garment industry very carefully and undertaking a survey of all factories for safety standards.

 

"...We attend to garment industry very carefully. We are undertaking a survey of all garment factories to ensure safety standards, to ensure that the building are well constructed," he said.

 

The Bangladesh's garment export industry is the second in the world after China. He said such incidents have impacted the business in the country and it is trying its best to avoid that impact.

 

"And I don't think it’s going to be serious and I think already some of those who have threatened to go as a result of the incident have come back."

 

Bangladesh also keeps its ports open all seven days a week so that exports are not affected, he added.

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