Invest in youth
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the economy of tomorrow,” he said, warning about the risks of governments falling behind of the pace of the time.
“Things often evolve too fast and get difficult for governments to comprehend and also to implement. But we must keep on recalibrating our efforts to match the difficulties,” he said.
He called on the countries to build on their heritage and take advantage of the digital revolution that has been with us for years, including using AI.
On SMEs, Prof Yunus said that most of them thrive within informal economies, but aspire to grow and connect to the global supply chain.
Praising the competitive nature of SMEs, Prof Yunus said, “In the D-8 countries, collectively we possess enough wealth to stand by these SMEs. With our modest support, we can shape a virtuous ‘cycle of good’, for them and for our people. We need to let money flow to them,” he said.
Mentioning Bangladesh’s median age of just 27 years, he said every year, around two and a half million young people enter the labour market.
Pointing to the low skill level of millions of workers in the manufacturing landscape of D-8 nations, Prof Yunus said that artificial intelligence, machine learning, data-driven tools and applications have come up with a new horizon of opportunities to develop efficiency.
He proposed two specific actions for youth development.
Firstly, building and deepening functional, impact-driven connections between universities and equivalent knowledge institutions and the youth.
Secondly, he proposed thinking deeply about how to skill up millions of young adults in workplaces as well as confronting the challenge of re-skilling millions at different vocational streams, on a continuous basis.
He proposed thinking of a cooperative learning agenda that can complement the national undertakings of the D-8 countries.
Yunus thanked all the member states for supporting Bangladesh during its presidency of the bloc and wished Egypt the best for taking the role.
End brutalities in Palestine, Lebanon
Prof Yunus also called upon the international community to take decisive and collective actions to end the brutalities unleashed by the Israeli forces in Israel and Lebanon.
“We call upon all actors and stakeholders to take decisive and collective actions to end the brutalities,” he said while addressing a special session on the Humanitarian Crisis and Reconstruction Challenges in Gaza and Lebanon.
“From Cairo, we must voice our unity and unwavering commitment, in solidarity with our Palestinian brothers and sisters, at this existential time in their history,” the chief adviser said.
The massacres in Gaza, the West Bank, and Lebanon, are clear violations of international law and constitute war crimes. Those responsible must be held accountable, he added.
Urging for the “two-state solution,” he feared further escalation if hostilities in Lebanon continued.
This may destabilise the whole region, impacting global society and polity, not just the economy, he added.
He said Palestine has to emerge as a fully independent state based on the pre-1967 borders, with East Jerusalem as its capital.
“It is not an issue that merely concerns the Muslims. Rather, a universal cause where human dignity is tested. It is about the universal pledge to protect the vulnerable. It is indeed our moral duty to stand by them, resolutely.”
He said more than six million Bangladeshis are living across the Middle East, including in Lebanon and the violence is a threat to their safety and security.
He said beyond humanitarian interventions, it is time to prioritise thinking of the reconstruction of Gaza, the West Bank, and Lebanon.