Focus should be on export market expansion, to avoid middle-income trap: Debapriya

Bangladesh should prioritise the expansion of export markets and the enhancement of its infrastructure to steer clear of the middle-income trap, Debapriya Bhattacharya, Convenor, Citizen's Platform and Distinguished Fellow, Centre for Policy Dialogue (CPD) said yesterday.

Speaking at a media briefing on "Civil Agenda for Inclusive Development and Equity: Agriculture, Employment, Unplanned Urbanisation, Public Services, and Clean and Affordable Energy," Debapriya emphasised the need for these measures as Bangladesh, currently a low-income country, is on the verge of transitioning to middle-income status.

To ensure a smooth transition, he highlighted the necessity of focusing on creating quality employment opportunities and ensuring fair wages. He emphasised that securing decent employment, equitable wages, and establishing a minimum wage standard for the next generation are essential objectives.

Additionally, Debapriya pointed out the need to improve education standards, prioritise healthcare, and combat corruption within the country to enhance productivity.

He mentioned that Bangladesh is on the cusp of a significant democratic transition and highlighted the importance of ensuring fair, competitive, participatory, and transparent elections.

He emphasised that the recommendations put forth are aimed at encouraging political parties to include marginalised communities in their election manifestos.

At the media briefing held at Brac Center in the capital, speakers presented information on four key topics and offered recommendations in the aforementioned arenas.

Furthermore, Debapriya pointed out that discussions about Bangladesh's current developments often revolve around average economic growth and per capita income. However, observations made throughout 2022 in various regions of the country revealed significant disparities and deviations from these averages.

"Many individuals, particularly in hilly regions, areas affected by river erosion, and the Haor region, continue to face challenges in adapting to necessary advancements. These challenges pose ongoing risks to these communities," he added.

Asif Ibrahim, a core group member of the Citizen Platform, presided over the event.

Professor Mustafizur Rahman, a Core Group Member of the Citizen's Platform and a Distinguished Fellow at CPD, stressed the critical significance of energy security in promoting inclusive development.

He highlighted that without energy security, Bangladesh must confront a host of challenges, drawing attention to the historical example of Bapex's weakening.

Additionally, he emphasised the alarming reality of low productivity, with only 12% of GDP generated by 45% of the population, underscoring the need to address this issue for Bangladesh's progress.

Attendees of the event also put forward different reports on four topics and recommendations at the event.

The report on "Ensuring Affordable and Clean Energy for All" recommends intensifying gas exploration efforts urgently, establishing a pathway for future energy investments, reducing system losses through proactive measures, promoting domestic use of natural resources, mandating regular policy framework revisions, encouraging local manufacturing of renewable energy equipment, explore wind power potentials, prioritising grid infrastructure development for renewable electricity, develop exit strategies for QR and rental power plants urgently and ensure quality and continuity of electricity supply.

Additionally "Providing Decent Employment for Youth in View of Domestic and Overseas Markets" recommends conducting regular skills gap assessments, collaborating with industries to identify emerging job requirements, aligning curriculum with industry demands, encouraging universities to offer flexible, industry-relevant courses, fostering strong ties with local businesses for internship and job placement programs, providing support for NEET (Not in Education, Employment, or Training) youths, developing a digital FDI promotion platform, and improving rural infrastructure, including roads and cold storage facilities.

Besides, "Transforming Agriculture for an Inclusive and Diversified Economy" recommends emphasising productivity-driven diversification, intervening in agro-practices, focusing on skills development, technological adaptation, and innovation, and ensuring access to finance and incentives for small farmers.

Meanwhile, "Providing Public Utilities and Services in the Backdrop of Unplanned Urbanisation" recommends strengthening local government institutions, revising policies, laws, and institutional setups, establishing local monitoring groups, promoting stakeholder engagement, emphasising waste management, and reducing single-use plastics, addressing data availability issues, tackle skills gap problems, and focus on addressing challenges related to unplanned urbanisation.