Bangladesh assured continued collaboration with CFC
29 April 2025, New York: Ambassador Sheikh Mohammed Belal, Managing Director of the Common Fund for Commodities (CFC), who is now visiting New York to attend an event organized by the UN DESA, met with H.E. Mr. Salahuddin Noman Chowdhury, Ambassador / Permanent Representative of Bangladesh to the United Nations, at the latter’s office on Tuesday, 29 April 2025.
After exchanging pleasantries and congratulating Ambassador Chowdhury on his recent appointment, Ambassador Sheikh Mohammed Belal delivered a comprehensive briefing on the ongoing initiatives of the CFC, underscoring the growing demand for the organization’s services. He emphasized the CFC’s significant contributions to advancing sustainable development and poverty reduction, particularly in the context of current global crises.
Highlighting the critical importance of collective action, Ambassador Belal stressed that meaningful change can only be achieved through strong partnerships—such as the collaboration between CFC and member countries. Recognizing the urgency posed by present global challenges, he called for strengthening working relationships with member countries to help bridge the development gap between the Global South and the North.
Ambassador Belal commended Bangladesh’s role as a standard-bearer in global development, particularly under the visionary leadership of Nobel Laureate Professor Muhammad Yunus, whose pioneering microfinance model has transformed millions of lives. He expressed hope that Bangladesh would continue to share its best practices—such as microfinance, agricultural innovations, and social business models—on the floor of the CFC in the Netherlands, inspiring other nations to adopt similar solutions.
In this context, Ambassador Belal urged Bangladesh to be the global voice for fair prices and wages for commodity producers and workers, emphasizing how the lack of a living wage—particularly in sectors like garments—brings severe hardship to workers. He encouraged Bangladesh to leverage its development successes to advocate for equitable economic systems worldwide.
He further highlighted the “Humanizing Value Chains” initiative, which aims to maximize benefits for smallholder farmers, alleviate poverty, and combat hunger through inclusive and sustainable commodity development.
Ambassador Belal invited Ambassador Chowdhury to advocate for the CFC’s newly launched Agricultural Commodity Transformation (ACT) Fund within the Government of Bangladesh, among private sector stakeholders, and across the UN ecosystem. The ACT Fund seeks to mobilize catalytic investments to bring transformative improvements to commodity sectors in support of sustainable development goals and poverty alleviation.
Ambassador Chowdhury expressed full alignment with the CFC’s mission—particularly its efforts to address persistently low farm-gate prices that undermine the livelihoods of smallholder farmers despite their hard work and dedication. He reaffirmed Bangladesh’s strong support for the CFC at various levels and fora of the UN.
The meeting concluded with a renewed commitment to continued collaboration, and both sides agreed to maintain close communication on necessary follow-up actions.
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