NGOs should focus on raising awareness to ensure accountability and good governance in the health and education sectors, he said as the chief guest at a seminar on 'Economic Transformation and Social Development in Bangladesh'.

The East West University and the Economic Research Group jointly organised the seminar at the conference room of the university, with its Vice Chancellor Prof Farash Uddin Ahmed in the chair. Indian economist Isher J Ahluwalia was present as special guest.

Prof Wahiduddin said the readymade garments sector has somehow survived in the post Multi-Fibre Arrangement era as the governance problems did not have any impact on the sector.

Yet, the growth in the garment sector may decline around 25 percent in the quota-free regime, he added.

The country's economic growth prospects crucially depend on sustainable high export growth, which can be achieved through continued growth of garment exports as well as export diversification, he said.

Economist Isher J Ahluwalia said Bangladesh has achieved successes in increasing life expectancy, reducing infant mortality rates and birth rates, improving the status of child nutrition and promoting girls' education in the last one and a half decades.

She said any country that has changed its government through election three times in a row cannot be called a dysfunctional state.

"When compared with other developing countries, Bangladesh emerges as a feisty fighter moving steadily to improve its status along the many dimensions of social development," she added.

Ahluwalia said accelerating economic growth in the years ahead will be more challenging because of tough competitions in exports.

Former finance minister Abul Mal Abdul Muhit, economist Debapriya Bhattacharya, Prof Mamtaj Uddin Ahmed, Dr Sazzad Zahir and Dr Asaduzzaman also spoke.

Hossain Zillur Rahman presented a speech on 'Good Governance: A Search for Entry Points' in the second session of the seminar.

Former finance minister M Sayeduzzaman chaired the session.