Ensure safe, dignified return of Rohingyas, CA Yunus urges Asian leaders

Chief Adviser Professor Muhammad Yunus has urged Asian leaders to come forward towards ensuring safe and dignified repatriation of displaced Rohingyas to their homeland in Myanmar.

He also called on Asian countries to step up and strengthen cooperation in four key areas – finance, trade, food and agriculture, and technology, stressing that Bangladesh faces multiple challenges that are shared by other Asian countries.

Yunus made the calls while addressing the opening plenary of Boao Forum for Asia (BFA) conference in Hainan yesterday, reports BSS.

In 2007, Yunus attended the Boao Forum for Asia to share insights on microcredit.

Talking on the Rohingya crisis, Yunus reminded the conference that Bangladesh has been hosting over 1.2 million forcibly displaced Rohingyas for more than seven years. 

"We continue to bear significant social, economic and environmental costs," he said, adding that UN Secretary-General Antonio Guterres recently visited the camps in solidarity.

"Global efforts are drastically shrinking but continuing. Asian leaders must come together to ensure their safe and dignified repatriation to their country, Myanmar," the chief adviser said, mentioning that the protracted crisis in Myanmar threatens regional stability.

Strengthening Asian cooperation

Emphasising that the destinies of Asian countries are intertwined in this changing world, he said, "We must chart a clear roadmap for a shared future and shared prosperity…This is the shared future we in Asia must create together," reports UNB.

He further stressed that Asia must create a sustainable financing mechanism. "We need reliable funds that address our challenges and meet our growing demands," he said.

He also noted that Asia remains one of the least integrated regions. "This weak integration stifles investment and trade. We must work to boost trade cooperation immediately."

Talking on the international financial market, the chief adviser said global financial market instability, political uncertainties, diplomatic tensions and trade disruptions create volatility.

Rising interest rates and debt servicing costs are deepening Asia's debt crisis, he said. "Despite global commitments to the 2030 Agenda, progress is slow."

"Only 24% of SDG targets have been met. Developing Asian countries face an SDG financing gap of $2.5 trillion to $4 trillion annually," Dr Yunus said.

Beyond SDG financing, he said, Asia also needs large-scale investments in infrastructure and economic diversification through responsible financing, reports UNB. 

He noted that Bangladesh has been a victim of corruption and illicit financial flows.

These corrupt practices cost developing countries an estimated $1 trillion annually which is multiple times more than the total ODA (official development assistance) they receive, he mentioned.

Dr Yunus said Asia should stand united to establish a multilateral mediation mechanism for asset recovery and return.

Focus on food security, sustainable future

Yunus also said they must promote resource-efficient farming.

"Domestic production must be enhanced for food security. We need to reduce import reliance and achieve self-sufficiency," Yunus noted.

Expanding tech-based sustainable agricultural solutions and innovation in regenerative and climate-smart farming is the key, he said.

The chief adviser said Asia must build a strong tech ecosystem, which should be restorative, distributive and inclusive.

"We need to share knowledge, data and invest in technology incubation and innovation," he said, adding that collaboration on digital solutions will drive progress.

Global challenges

Emphasising that wars and conflicts erode rights and disrupt economies in today's poly-crisis world, Chief Adviser Yunus said the genocide in Gaza continues despite global condemnation, noting that the crisis in Palestine is not just an Arab or Muslim concern, it is a humanitarian issue. 

"The continued tension in Ukraine is heavily tolling the global supply chain," he said.

Noting that food security is under increasing pressure, he said rising prices of essential commodities are straining household budgets, especially for low-income families.

Climate change and natural disasters are aggravating this crisis, Yunus mentioned. "Strengthening food supply chains is essential."

He said energy security is critical, especially for net-importing developing countries. Energy supply disruptions drive inflation, economic instability and debt distress.

"We must find sustainable energy solutions and scale up investments in renewables. Investing in health and education is crucial for human capital development," said the chief adviser.

Sharing his thoughts on the theme "Asia in the Changing World: Towards a Shared Future," Yunus said this forum takes place at a critical juncture.

"Global governance under multilateralism is being questioned. Geopolitical tensions are rising. Climate change is escalating. Debt burdens are unsustainable. Humanitarian crises are growing," he said.

He further said political will for development cooperation is weakening and the world faces an alarming shortfall in collective action.

Asia, home to 60% of the global population and 55% of global GDP, is at the centre of these changes, he said, adding, "Emerging norms, regulations, and technologies are reshaping governance and economic policies. Assumptions that shaped policies a decade ago are no longer relevant. The need for regional and global cooperation has never been more pressing."

Stressing that the climate crisis poses an existential threat to humanity, he said in the Asia-pacific region, climate disaster-related economic losses are already enormous, which is equivalent to $65 billion.

Climate-vulnerable countries like Bangladesh are forced to divert resources toward disaster response, limiting investments in productive sectors. 

"We need new, additional, accessible, non-ODA, non-debt-creating, grant-based climate finance, with an equitable distribution between adaptation and mitigation," Yunus said.

Mentioning that Asia's demographic dividend presents immense potential, Yunus said, "A growing workforce, particularly young people, can drive innovation and productivity. We must provide them access to finance for entrepreneurship and sustainable solutions."

He also noted that women's labour force participation in Asia remains low. Gender gaps persist in leadership and decision-making. "We must remove barriers to women's economic empowerment and ensure equal access to opportunities," he added.

Zhang Jun, secretary general of Boao Forum for Asia; Ban Ki-moon, former secretary-general of the United Nations and chairman of the Boao Forum for Asia; Ding Xuexiang, executive vice premiere of the State Council of the People's Republic of China, among others, spoke at the session.