Bangladesh To Propose The Setting Up Of Grain Funds

Kuala Lumpur, Malaysia | February 21, 2009 by D-8 Secretariat

Setting up of strategic food grain banks or funds is important for D-8 countries

Bangladesh, one of the Developing 8 (D-8) member countries, is to propose the setting up of strategic food grain banks or funds to be activated in times of need by member countries.

Bangladesh, which has confirmed its participation in the D-8 Ministers’ Meeting on Food Security in Kuala Lumpur, is expected to make the proposal at the meeting, which will be held from Feb 25 to 27.

Bangladesh will be represented by its Secretary of Agriculture, Sheikh Enayatullah.

Bangladesh High Commission’s counsellor, A.S.M. Waisuzzaman told the Malaysian News Agency, Bernama, that the proposed funds should be used to buffer sagging grain prices following disaster or calamities.

While lauding Malaysia’s effort in organising such an important event amid gloomy economic environment globally, he hoped that the details and machanics of the proposed fund could be worked out by the participants.

He said grains, largely consumed by member countries, should be made more affordable and abundantly available.

“What member countries could do was to work out a mechanism whereby food grains could easily be distributed to needy members,” he said.

Waisuzzaman also expressed hope that the conference would come up with practical and comprehensive solutions for food security.

The three-day conference would focus on three initiatives - the production and supply of quality fertilizers, animal feed and seeds.

It also aims to increase agro trade among D-8 countries, strengthen capacity building and technical cooperation and contribute towards the economic development of member countries in food and agriculture.

The D-8 was formed in 1997 as a forum to increase cooperation in various sectors to improve the economy of member countries.

The eight countries that make up D-8 are Malaysia, Indonesia, Bangladesh, Pakistan, Iran, Turkey, Egypt and Nigeria.

Saudi Arabia, Brunei and Qatar will also attend the conference as observers.

Source: BERNAMA.

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