Geo-politically speaking, much of the world is undergoing immense transformations which have seen many countries become increasingly isolationist and belligerent. Certainly the recent sweeping tariffs set by the United States, under the incumbent Republican cabinet, has sent out a message to the world, that one of the wealthiest nations in the world is only going to protect its own interests for the foreseeable future.
While certainly a shocking development, given the size and scope of the US market in terms of exports, it is, nonetheless, a reality that much of the world will have to contend with. However, that does not mean that foreign relations from here on in have to subscribe to the language of threats and tariffs for every nation.
The answer lies in regional cooperation, certainly for wider South Asia and Southeast Asia. To that end, Bangladesh assuming the chairmanship of the regional bloc Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (Bimstec) for the next two years cannot be more timely. Bangladesh is currently in the midst of a paradigm shift in how it governs itself and while it will take some time for the economy to be course corrected after a decade and a half of ruin, the interim government’s commitment to reforms and growing partnerships with our regional partners places Bangladesh in the perfect position to assume this role in the here and now.
Bimstec has always been considered an initiative of immense potential, each member state sharing common problems and challenges, and working together as neighbours has become an essential aspect of progress in a world that is ostensibly becoming more isolationist as the years go by. Not only will further cooperation among our closest neighbours ensure mutual development, but collaborative efforts between South and Southeast Asian countries will ensure that our shared development is truly forward-looking and sustainable.
