FAO to aid foreign investment in agricultural sector

The United Nations Food and Agriculture Organization will work on enhancing investment in Bangladesh’s agricultural sector.

Agriculture Minister Abdur Razzaque said this at a press conference on Wednesday evening after meeting with FAO Director General Qu Dongyu at hotel Intercontinental in the capital.

Qu Dongyu is visiting Bangladesh as part of attending the ongoing regional conference for Asia and the Pacific.

“FAO will host investment summit in October. In the summit it will influence international donor agencies and development partners to invest in agricultural development and transformation in Bangladesh,” Razzaque said.

“The UN organisation will invite Prime Minister Sheikh Hasina to participate in the top meeting.”

The minister said Bangladesh needs international investment in agricultural development, i.e, improving irrigation system, developing new crop varieties for coastal areas, enhancing high-value crop yield in hilly areas, food processing and ultimately boosting of export.

FAO works with donors and provides technical support. It prepares rules of reducing harmful effects of pesticides.

Bangladesh produced 57 lakh metric tonnes of maize last year where FAO played an important role.

Razzaque expects that Bangladesh’s relationship with FAO will further strengthen in the days to come.

Russia-Ukraine war won’t create food scarcity

The agriculture minister said the Russia-Ukraine war will not create food scarcity in Bangladesh as the country has sufficient food stock.

“The current stock of food crops is the highest ever. Production is also good. Besides, new rice will come out in mid-April. Considering all these, we will not face major crisis,” he hoped.

Razzaque pointed out that commodity prices are high in the international market due to the ongoing war that has hit Bangladesh market to some extent.

Officials from the Ministry of Agriculture and FAO were present in the meeting.