Bangladesh achieved 5.4 percent in real GDP growth that year which is better than those of Nepal and Myanmar, but it is lower than the average growth in the region, the survey added.

This was announced in the UN-Escap Economic and Social Survey of Asia and the Pacific in 2006 published globally yesterday. UNDP Resident Representative Larry Maramis formally launched the report at a press conference in United Nation Information Centre (UNIC) in Dhaka.

Mirza Azizul Islam, former chairman of Securities and Exchange Commission, gave an overview of the highlights of the survey.

The survey report pointed out that in Bangladesh a surge in oil and commodity prices combined with the adverse effect of the floods put severe upward pressure on the price level. As a result, the inflation rose to 6.5 percent in 2005 from 5.8 percent in 2004, the survey added.

The import bill also went up due to surge in oil and commodity prices.

The survey suggested giving infrastructure development higher priority with a major emphasis on the energy sector.

It said despite remarkable economic growth, pockets of poverty continue to exist in East and Southeast Asia.

The report observed unemployment issues will be the important challenges for the region as approximately 679 million people are still living in poverty in the region despite significant economic growth.

"Labour markets in the region have hardly progressed relative to the region's economic gains," said the report.

"In many countries, economic growth is not generating enough well paying jobs or even enough to absorb new entrants to the workforce".

The report revealed that following a strong performance, the economic growth rate of developing countries in Asia and the Pacific region slowed moderately to 6.6 percent in 2005 from 7.4 percent in 2004.

This happened mainly because of high oil and commodity prices and a global slowdown in trade, it added.

Mirza Azizul Islam said the inequality in the growth is a major problem and measures should be taken to address it.

He suggested injecting more money in poverty alleviation and sectors like health and education for reducing the poverty level.

Responding to a question, Larry Maramis observed Bangladesh is yet to rule out joining the UNESCAP-sponsored Asian highway network. "It is a politically sensitive issue and I think Bangladesh is continuing negotiation to join the network" he commented.