August 15, 2020

Ambassador Belal elected as next MD of CFC

Ambassador Sheikh Mohammed Belal got elected as the next Managing Director of the Common Fund for Commodities (CFC) on 04 December 2019. The election took place on 04 December 2019 during the Governing Council Meeting of the CFC in The Hague, where member states decided by consensus from a list of six candidates by vote.

Bangladesh Ambassador to the Netherlands Sheikh Mohammed Belal will, therefore, be the next Managing Director of the Common Fund for Commodities (CFC), an autonomous intergovernmental financial institution established within the framework of the United Nations for the next four years. 

Presently, 101 States including Bangladesh, Netherlands, UK, Russia, China, Germany, Italy, Brazil, Argentina, India, Pakistan, Saudi Arabia, UAE, Egypt, Indonesia, Malaysia, etc. and 9 organizations including the European Union and African Union are the members of CFC, and it is now headquartered in Amsterdam, the Netherlands.

Bangladesh’s election as the Managing Director of CFC manifests appreciation by the international community of Bangladesh’s successes in socio-economic emancipation and commitment to the attainamnet of SDGs by 2030 coupled with the CFC-members’ trust and confidence on Ambassador Belal’s diplomatic brilliance and sagacity.

Ambassador Belal now, as Chief Executive Officer of this international financial institution, shall be primarily working to fund projects in different countries to bring prosperity to the poverty stricken people. 

Ambassador Belal, during his campaign, also highlighted the necessity of learning from advanced innovations and technologies of the developed and developing countries and therefore, assured to build up more partnerships between the developed and developing word.

Ambassador Belal is known for his devotion for the upliftment of forgotten people at the margin, as he always championed the necessity of abiding by the promises made in the agenda 2030 and therefore, always urged all to remain an active partner for implementation of Sustainable Development Goals (SDGs) under any circumstances. Terming all members of the humanity in one global boat of this planet, Ambassador Belal pledged to work harder for making the CFC much better than what he got.

Ambassador Belal in his comment after the election stated that this historic win of Bangladesh is a reflection of the international community’s respect and recognition of present day Bangladesh as a model for development. The new height that Bangladesh achieved under the visionary leadership of Prime Minister Sheikh Hasina was acknowledged by the international community through their vote for the candidature of Bangladesh.

The 31st Annual Meeting of the Governing Council of Common Fund for Commodities was held on 3-4 December 2019 in The Hague. Dr Md Jafar Uddin, Commerce Secretray and Governor of CFC for Bangladesh led Bangladesh delegation to the meeting.

Ambassador Belal during his presentation at the CFC MD election.

The Agreement Establishing the Common Fund for Commodities was negotiated in the United Nations Conference on Trade and Development (UNCTAD) from 1976 to 1980 and became effective in 1989. The CFC is mandated to enhance the socio-economic development of commodity producers and contribute to the development of society as a whole through projects financed from its own resources. 

Ambassador Belal’s election as the next Managing Director of the CFC has instilled renewed aspiration to the members of the organization, developed and developing alike, to bring CFC to the aide of millions of people at the margin. It may be noted that Ambassador Belal has also been elected as Chairperson of the prestigious Committee of the Whole of the Conference of States Parties to the Chemical Weapons Convention this month and has also been working as a member of the Board of Directors of the Trust Fund for Victims of the International Criminal Court.

For the next four years, Ambassador Belal will, therefore, be working as Managing Director of the CFC, based in Amsterdam, the Netherlands after completing his tenure as Ambassador of Bangladesh to the Netherlands, Croatia and Bosnia and Herzegovina.

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