Rahman described the crisis as a stark reminder of global interdependence, warning that no country, regardless of its strength, can tackle the challenge alone…reports Asian Lite News
Tarique Rahman has called on global development partners to mobilise a USD 2 billion fund to help Bangladesh meet urgent energy needs and protect its economic stability, according to state run Bangladesh Sangbad Sangstha.
Speaking at the Asia Zero Emission Community Plus Online Summit, Rahman stressed the need for swift and collective action in response to the worsening global energy crisis. “The situation before us demands urgency, solidarity, and decisive action. Immediate support for the most vulnerable countries must be at the top of our collective agenda,” he said, urging the international community to respond quickly.
Rahman described the crisis as a stark reminder of global interdependence, warning that no country, regardless of its strength, can tackle the challenge alone. He called for a coordinated Asian response to bolster regional energy security, address supply disruptions, and support vulnerable economies.
The Bangladesh leader noted that the crisis has already disrupted the country’s economy, prompting a series of short term measures to limit the damage. These include managing demand by reducing government office and market hours, stabilising fuel supplies through emergency imports and diversified sourcing, and enforcing consumption controls to prevent hoarding and panic buying. Initiatives such as the Fuel App have also been introduced to regulate retail fuel access.
He cautioned that the scale of the current crisis could surpass the impact of the 1970s oil shock, which led to prolonged economic stagnation in many developing countries during the following decade.
Since gaining independence in 1971, Rahman said Bangladesh has made significant progress in driving growth, reducing poverty, and improving living standards. However, he warned that these achievements are now at risk of being reversed due to the ongoing crisis.
“Bangladesh is not alone in facing this risk, nor can we overcome it through national effort alone,” he said, calling for decisive and coordinated global action to shield least developed countries from severe economic and social fallout.
Rahman also expressed appreciation to Sanae Takaichi for convening the summit. Leaders including Anwar Ibrahim, along with representatives from Japan, the Philippines, Singapore, Thailand, Vietnam and Timor Leste, participated in the virtual meeting, which concluded with remarks from Takaichi.
