Bangladesh — a vibrant economy with many opportunities for Saudi entrepreneurs

Bangladesh — a vibrant economy with many opportunities for Saudi entrepreneurs

March 26, 2017
Custodian of the Two Holy Mosques King Salman and Prime Minister Sheikh Hasina at the Al Salam Palace during the official visit in June 2016
Custodian of the Two Holy Mosques King Salman and Prime Minister Sheikh Hasina at the Al Salam Palace during the official visit in June 2016

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When Bangladesh finally became independent on Dec. 16, 1971, after declaration of independence on March 26, 1971 by the Father of the Nation Bangabandhu Sheikh Mujibur Rahman, which led to a bloody War of Liberation of nine months, many doubted whether Bangladesh would be able to stand up on her own feet. Now Bangladesh is a miracle to many development practitioners around the world. Bangladesh is a role model for developing world!

The first task of the government of the day in early 1972 was to get recognition from countries of the world. Bangabandhu made a clarion call in London on Jan. 8, 1972, “. . . I now appeal to all states to extend recognition to the People’s Republic of Bangladesh, to enter into diplomatic relations with us and to support our immediate admission to the United Nations. . .” Bangladesh gained enormous support from international community and is now a nation with pride and many successes under the dynamic leadership of daughter of Father of the Nation, Prime Minister Sheikh Hasina. She stated in the UN High Level Panel on Rule of Law in New York in September 2012 that “Bangladesh believes in peace and justice within the state, and in state-to-state relations. Bangladesh also believes in sovereignty, territorial integrity and non-interference in the internal affairs of other nations. These emanate from the philosophy of ‘Friendship towards all, malice towards none’ of Bangabandhu Sheikh Mujibur Rahman, the Father of the Nation, who declared it as the foundation of our foreign policy along with the importance and necessity of the rule of law and justice for all in 1974 at the UN General Assembly.”

Bangladesh is now a role model for developing world in poverty reduction, achieving success in health and education, women empowerment, fighting climate change with UN accolade and a major UN troops contributor for peacekeeping operations around the world. Bangladesh is maintaining a ‘zero tolerance’ policy towards the menace of terrorism and violent extremism in its all forms and manifestations. Bangladesh is second fastest growing economy in the world (in 2016) with more than 7% growth. Bangladesh is now well regarded by international community with excellent relations with important countries of the world including Saudi Arabia. Prime Minister Sheikh Hasina had a very successful visit to Saudi Arabia in June 2016 while she had audience with Custodian of the Two Holy Mosques King Salman, when both had fruitful discussion.

The World Bank Group president in a recent visit to Bangladesh in late 2016 stated that “Bangladesh has shown the world that a long list of hardships can be overcome. In fact, its people have shown that innovation, commitment, setting goals, and visionary leadership can accomplish feats that few dared imagine. I believe that Bangladesh can continue to build on this record and can end extreme poverty by 2030 and boost shared prosperity”.

Bangladesh Prime Minister Sheikh Hasina was awarded the Prize — the United Nations Champions of the Earth Award — in recognition of her outstanding initiatives to address climate change. “Serving as Prime Minister of Bangladesh — one of the world’s least-developed countries — Sheikh Hasina has proven that investing in climate change is conducive to achieving social and economic development,” said the award announcement issued by the UN Environment Program (UNEP), which conferred the award in 2015.

Bangladesh in the UN Peacekeeping operations

Bangladesh first participated in the peacekeeping operations in 1988. Now it is a major contributor, with about 7,000 personnel deployed in 11 peacekeeping missions at present. Overall, Bangladesh has provided more than a hundred thousand peacekeepers to UN peacekeeping, and thereby established itself as a staunch supporter and promoter of global peace in keeping with its constitutional obligations. Currently, Bangladesh holds the lead position among all troops and police contributing countries (TCCs/ PCCs).

Bangladesh’s value-driven contribution to UN peace operations has thus become an integral part of her foreign policy pursuits. Bangladesh takes legitimate pride in the fact that 126 of its valiant sons have made the supreme sacrifice in course of duty on UN peacekeeping operations.

Peacekeeping and Peace building Nexus

The constitution of Bangladesh upholds the basic principles of our conduct of foreign relations based on peaceful settlement of international disputes, respect for international law and the UN Charter. Bangladesh has been pursuing to build trust and confidence through security cooperation and dialogue with her neighbors. Bangladesh’s commitment to peace and harmony amply reflected in our recent engagements with neighbors on some critical issues such as land boundary and maritime boundary demarcation. Bangladesh has followed the path of peaceful settlement of disputes through international legal framework with its neighbors on these issues. This has not only given dividend to the nations concerned but also contributed to the regional development which ultimately help to secure peace, progress and stability in the region.

Peace and development is a fundamental pillar of our foreign policy. Bangladesh has been playing a proactive role in the international peacekeeping and peace-building efforts with deep commitment to the provisions of the UN charter and other international covenants. Prime Minister Sheikh Hasina presented a ‘People’s Empowerment and Development’ model at the 66th General Assembly of the UN in 2011. The main theme of this model is that all people should be treated equally and she emphasized on the scope of human capabilities, which can be realized through peace. This model of people’s empowerment and development was unanimously adopted as a resolution in the 67th UNGA in 2012. This manifests the commitment of Bangladesh in promoting international peace and development.

Bangladesh has always underscored the need to plan and conduct peacekeeping operations in a way to facilitate post-conflict peace building, prevent the relapse into armed conflict, and promote sustainable peace and development. As the Chair of the UN Peacebuilding Commission in 2012, Bangladesh organized the first ever Summit level meeting of the Commission in New York on the sideline of 67th UNGA session. The meeting chaired by Prime Minister Sheikh Hasina mobilized support of global political leadership towards incorporation of a peacebuilding perspective in the mandates of the peacekeeping operations to ensure longer-term peacebuilding and sustainable development. In line with Bangladesh’s commitment to this effect, our peacekeepers are now also serving as peace builders in fragile post-conflict situations.

Of late, Bangladesh has established a Peace Building Center, second of its kind in Asia, to develop specialized capacity for a range of peace building activities including electoral management, administrative, judicial and security sector reform, human rights promotion and protection, disaster management, women’s empowerment and socio-economic development, among others.

Bangladesh Prime Minister Sheikh Hasina declared in 2014 at the UN General Assembly, “. . . We cannot achieve sustainable development without durable peace and security. The volatile global security situation continues to pose significant challenge to international development. Bangladesh believes that threat to peace anywhere is a threat for the entire humanity. . . “

In September 2015, the UN Peacekeeping Summit was held at the UN Headquarters in New York on the sidelines of the 70th UNGA at the initiative of the US government. Bangladesh Prime Minister co-chaired the meeting with the US President, President of Rwanda and Indonesia, Prime Ministers of Japan, Netherlands, Ethiopia, Uruguay and Pakistan and the UN Secretary General. Prime Minister Hasina made a number pledges in the Summit in terms of enhancing Bangladesh’s continued contributions to UN peace support operations. Bangladesh is also currently developing a National Strategy on Peace Support Operations to provide general guidance for coordination and capacity building to add further value to Bangladesh’s participation in UN-led peace-support operations.

Bangladesh is now a land of many opportunities for international partners including Saudi Arabia, particularly with a vibrant location for trade and investment hub in the region. The visit of Bangladesh Prime Minister ushered a new relationship with the Kingdom. Bangladesh is now considered a ‘role model’ in the developing world and Muslim world in respect of its development in economic, social and women empowerment. Bangladesh is ready to share its experiences in reducing poverty through innovative approach including microfinance, achieving successes in primary and second education, women empowerment and fight against terrorism and violent extremism with friendly nations. Saudi entrepreneurs may find new opportunities in Bangladesh in expanding their trade and investment.


March 26, 2017
HIGHLIGHTS