Bangladesh's Sheikh Mohammed Belal has been re-elected Managing Director of the Common Fund for Commodities (CFC).

He has been re-elected with 68.01 percent votes at the 35th Annual Meeting of the Governing Council, said the Ministry of Foreign Affairs.

The election took place on November 22, 2023 and Belal will serve a four-year term in office.

Foreign Minister Dr AK Abdul Momen congratulated Belal on his re-election to the post.

In a congratulatory message on Thursday, the foreign minister said that Ambassador Belal will have the opportunity to work more for the disadvantaged of the world as he has been elected managing director of an important financial institution for the second term.

Under his leadership, he said, the Common Fund for Commodities will be able to play a more effective role in achieving sustainable development goals.

During his acceptance speech, Ambassador Belal expressed his gratitude to Prime Minister Sheikh Hasina for her confidence in nominating him for this high post as well as inspiring him to work more for the cause of alleviation of poverty.

He dedicated this historic victory to the resilient people of Bangladesh as they always inspired him to do more with the less.

In the 34 years of CFC history, Ambassador Belal is the first Managing Director who was elected with more than three third votes in the first round.

This historic victory was possible because of unprecedented support for Bangladesh candidature from all major regional groups, Ambassador Belal said.

Belal was first elected Managing Director of the Common Fund for Commodities (CFC) in the CFC's Governing Council on December 4, 2019 and officially assumed his post on April 8, 2020.

Prior to his appointment at CFC, Belal was the Ambassador of Bangladesh to the Netherlands with concurrent accreditations to Bosnia and Herzegovina and Croatia from March 2014 to February 2020.

He has also held a number of leadership positions at OPCW, ICC, PCA and served the government of Bangladesh in various diplomatic capacities.

The CFC is an international organization that provides financial support to projects along the commodity value chains in its member countries.

The organization's goal is to promote sustainable development and alleviate poverty by supporting businesses, cooperatives, and institutions involved in commodity production and trade.

The 35th Governing Council meeting brought together representatives from member countries and international organizations.

The CFC's work is essential to the development of commodity-producing countries, and the role of the Managing Director is crucial in ensuring the organization's success, said the organization.

The election of the Managing Director is seen as an important event that will shape the future of the CFC and its impact on the lives of people in member countries.