International Conference on
Global Economic Recovery : Asian Perspective
The world economy, five years after the global financial crisis, is showing signs of bouncing back this year pulled along by a recovery in high-income economies, says the World Bank’s latest Global Economic Prospects report.
Growth prospects for 2014 are, however, sensitive to the tapering of monetary stimulus in the United States, which began earlier this month, and to the structural shifts taking place in China’s economy. The Washington-based lender sees the world economy expanding 3.2 percent this year. The forecast for the richest nations was raised to 2.2 percent from 2 percent. Part of the increase reflects improvement in the 18-country euro area, with the U.S. ahead of developed peers, growing twice as fast as Japan. The bank held its forecast this year for Japan at 1.4 percent.
Overall, growth in emerging market and developing economies is expected to increase to 5.1 percent in 2014 and to 5.4 percent in 2015. Growth in China rebounded strongly in the second half of 2013, due largely to an acceleration in investment. This surge is expected to be temporary, in part because of policy measures aimed at slowing credit growth and raising the cost of capital. Growth is thus expected to moderate slightly to around 7½ percent in 2014-15. Growth in India picked up after a favourable monsoon season and higher export growth and is expected to firm further on stronger structural policies supporting investment.
According to ICC World Trade Agenda Greater trade efficiency could increase global trade in manufacturing by up to US$ 377 billion a year and triple the benefits for consumers from tariff reductions. The gains would be from streamlining customs, reducing bribery and corruption, better infrastructure and more efficient cross-border services, and speeding up business through use of the Internet. Significant improvements in trade facilitation could increase exports of developing countries by approximately US$570 billion and exports of developed countries by US$475 billion. Taken together this would translate into more than US$1 trillion world export gains. Trade facilitation improvements could result in global job gains of 21 million, with developing countries gaining over 18 million jobs and developed countries increasing their workforce by 3 million.
In the past Asia, led by China, Japan and India have played the key role in overcoming the economic downturn by maintaining steady growth. It is, expected that Asia will continue to the lead the way for sustained world growth.
It is therefore, imperative that world leaders give their top most priority for the development of an integrated global strategy for sustaining the projected world growth momentum.
In celebration of the 20th year of ICC’s presence in Bangladesh, it’s National Committee has, therefore, chosen this theme : Global Economic Recovery : Asian Perspective for deliberations by the public and world leaders as well as experts on economic recovery strategies.
Venue: Bangabandhu International Conference Centre (BICC) & Pan Pacific Sonargaon Hotel
Registration Deadline: 2014-10-18
Registration Fee :Tk. 25,000.00
Method of Payment :Payment to be made by account payee cheque/Pay Order /Bank Draft in favour of Internatioal Chember of Commerce-Bangladesh
Cancellation : No refund can be made for cancellation of nominations. However, substitute candidates can be nominated at any time with intimation to Secretary General, ICCB. Updated registration materials will be require for substitute candidates