Collected from The Daily Star; 04 October 2024
Now is the best chance for Bangladesh to strengthen international cooperation
Professor Muhammad Yunus's presence at the UN General Assembly last month, particularly at events on the sidelines, marks a significant shift in Bangladesh's global relations. His meetings with prominent world leaders such as U.S. President Joe Biden, Canadian Prime Minister Justin Trudeau, Dutch Prime Minister Mark Rutte, European Commission President Ursula von der Leyen, and several heads of South Asian governments (except for India's prime minister and Sri Lanka's president, who was absent), as well as U.S. Secretary of State Antony Blinken and UN Secretary-General António Guterres, indicate a dramatic repositioning of Bangladesh on the world stage.
Additionally, the heads of multilateral financial institutions like the World Bank, International Monetary Fund (IMF), and Asian Development Bank (ADB) have pledged to accelerate their assistance and explore more effective ways to support Bangladesh during this critical period. The U.S. Agency for International Development (USAID) has also expressed renewed interest in Bangladesh, extending a $200 million loan—highlighting an improvement in Bangladesh's relations with global lenders.
Having a Nobel laureate as the head of the interim government represents a marked contrast to previous Bangladeshi leaders, some of whom were military dictators or politically self-serving figures. Professor Yunus brings a fresh sense of dignity to Bangladesh and the developing world as a whole. His lifetime commitment to alleviating poverty through microcredit, especially empowering women, has gained global recognition and influence. His model is being replicated in numerous developing countries and even in some developed nations, such as the U.S., where it impacts urban poverty.
Despite the positive developments, there are uncertainties about the long-term sustainability of Bangladesh’s new-found closeness with the U.S., especially given the current Biden administration’s limited tenure. Questions remain about whether this relationship would survive a Republican victory in the upcoming U.S. elections. Furthermore, how regional powers like India and China will react to these developments is a key area to watch.
A meeting between Professor Yunus and Indian Prime Minister Narendra Modi was initially requested on the sidelines of the UNGA but could not happen due to scheduling conflicts. This absence left Bangladesh’s chief adviser engaging with leaders from other South Asian countries but missing the chance to connect with its most significant neighbor, India. The subsequent meeting between Bangladesh’s Foreign Affairs Adviser and India’s External Affairs Minister appeared positive, but its true impact remains to be seen.
The fall of Sheikh Hasina's government has left India in a state of shock, leading to a cautious reassessment of its relationship with Bangladesh. Indian policymakers initially speculated about foreign involvement in the July uprising, which clouded their perception of the political reality on the ground. This has potentially caused further strain on India-Bangladesh relations, as anti-Indian sentiment seems to have grown in some segments of Bangladeshi society.
China, meanwhile, has quickly adjusted to the new political landscape, with its foreign minister meeting Professor Yunus during the UNGA, solidifying its ties with the new Bangladeshi administration.
Compared to Bangladesh’s prior standing, what Professor Yunus has accomplished in the international arena is remarkable. Bangladesh now enjoys unprecedented goodwill on the global stage, presenting a critical opportunity that must be capitalized upon. To fully harness this potential, Bangladesh’s foreign office must become more agile and proactive, engaging with academics, think tanks and media to strengthen global partnerships, particularly with key trade partners, and bring home the benefits of these new opportunities.
