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Saif in at ADB seminar in Auckland

Closer regional ties must for economic growth
Finance Minister M Saifur Rahman yesterday said, continued regional cooperation is a key factor in maintaining stability in Asia, much needed for sustained economic growth and promotion of trade, investment and technology transfer, reports UNB.
Such cooperation provide* conducive framework within which military expenditure may be drastically reduced in favour of urgent development priorities, Satfur said at a sent Inar on the Asia's development agenda in the New Zealand city of Auckland
He said it is also the only
way to harness common resources to mutual advantage and Increase the volume of intra regional trade
Prime Minister of New Zealand James Bolger inaugurated the semtnarorganised In connection with the 28th an nual meeting of the Board of Governors of the Aslan Development Bank that will conclude on May 5. according to a message received in Dliaka.
The Bangladesh Finance Minister was one of the keynote speakers along with the Deputy Prime Minister of New Zealand,, the Deputy Prime Minister of Thailand and the Finance Minister of Australia.
Presided over by Finance Minister of New Zealand and Chairman of the Board of Governors Bill Birch, the ADB
meeting is being attended by the representativs* of 52 member countries. Interna tional agencies and financial institutions, and NGOs
Saifur said Bangla.lesh has always been a staunch chain pion of regional cooperation and played a pioneerliig rote in establishing the South Aston Asswcistton for Regkwial Cooperation (SAARQ
Strongly pleading for a steady flow of Official Efevefop ment Assistance (ODA) for combating poverty in South
Flor datoAs—Paget
Asia and some other transitional economies of Asia. Satfur regretted that 75 per cent of the world's poor receive only 25 per cent of the ODA.
Due to political considera lions, he said. 40 per cent of akl is earmarked for strategically important < ounlries and twice as much as the ODA per capita goes to high military spenders compared to countries with modtttue military budget.
The finance minister said aid as a percentage of the Gross National Product fGNP) of the traditional donors has remained at less than 0 35 per cent, half of the United Nations target of 0 7 per cent of the GNP. Flow of concessional funds from the ODA and ADB is also plummeting.