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‘BD must demand UN to control capital flow’

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Twenty-eight rights, labour and farmers' organisations on Tuesday demanded that Bangladesh delegation to UN Addis Ababa Conference on Finance for Development to be held on July 13-16 must propose a UN political body to control illicit capital flow.
Addressing a press conference, representatives of the rights groups also demanded a UN initiative to organise global summit with the participation of all countries in this regard.
Online Knowledge Society, BILS, EquityBD, Udayan Bangladesh, Unnyayan Dhara, ADB International, CLEAN, Jatiyo Sramik Jote, Readymade Garment Workers' Federation, Banchte Shekha Nari, Bangladesh Krishak Federation, Bangladesh Bhumihin Somity, Bangladesh Sramik Federation, Development Synergy Institute, Awaz, Jono Oddyan Kendro, Bangladesh Sromik Federation, Bhasoman Nari Sramik Union, Jago Bangladesh garments Sramik Federation and Mehenoti Garments Sromik Federation jointly organized the press conference held at the Jatiya Press Club.
The press conference, titled 'Appeal to Bangladesh delegation on the eve of Addis Ababa conference on development Financing: Demand international political body to control illicit capital flow', was moderated by Rezaul Karim Chowdhury of EquityBD.
Sayed Aminul Haque of EquityBD presented the keynote paper.
M Fayez of Jatiyo Sramik Federation, Aminur Rasul Babul of Unnayan Dhara Trust, Md. Mujibul Haque Munir of Bangladesh Peasant Coalition, Mustafa Kamal Akanda of COAST Trust, among others, spoke on the occasion.
In his key note presentation, Aminul Haque said rich countries have common but different responsibilities regarding the poverty eradication of the poor countries.
"In SDGs, there's a proposal of mobilising domestic resources. But domestic resource mobilisation can't be effective if there're no appropriate measures to control global tax dodging and illicit capital flight," he said.
Rezaul Karim Chowdhury said due to 'Race to Bottom Practice' among many countries, especially among developed countries, countries like Bangladesh is losing huge amount of capital that is more then foreign aid.
"So, Bangladesh delegates must demand an international tax and bank transparency standard, which should be set by UN or a global body," he said.
Their demands also include: Elimination of double taxation policy, rich countries must provide 1.0 percent of their GNI for the development of the poor countries, foreign aid must be unconditional, public investment in the service sector must be expedite, foreign debt of poor countries must be cancelled.

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