Bangladesh Prime Minister Sheikh Hasina is scheduled to pay an official visit to Spain from July 21-23. Since the establishment of diplomatic relations between Spain and Bangladesh on May 12, 1972, when Spain formally acknowledged the independence and sovereignty of Bangladesh, the bilateral relationship between Dhaka-Madrid has undergone a significant transformation, moving from a distant relationship to a more robust and cooperative one.
Through PM Hasina's visit, this relationship is expected to move to the next level and determine the direction of future comprehensive Dhaka-Madrid relations.
Both countries have a great deal of room to grow in terms of diplomatic ties in several areas, including security, economics, education, and climate change. Both countries possess the capacity to promote enhanced cooperation, cultivate mutual understanding, and make a significant contribution to world peace and development by strategically leveraging their distinct advantages and common interests. The leaders of both countries have built a strong framework of diplomacy that will play a crucial role in determining the direction of bilateral relations between Bangladesh and Spain as these possible opportunities are examined.
After Germany, Spain is the second-largest European market for Bangladeshi clothing exports. With an annual growth rate of 16.7%, total exports to Spain reached $4.64 billion in 2022, making it Bangladesh's fourth-largest export destination. However, Bangladesh imported $216 million worth of goods from Spain in 2022, up 3.5% from the previous year.
With a total 218 LEED-certified green factories (by the United States Green Building Council, USGBC), Bangladesh leads the global eco-friendly and sustainable RMG sector. As expected, apparel accounts for the majority of export volume in Spain, leaving the Spanish market incredibly unexplored for other products.
Bangladeshi goods are in high demand in the Spanish market, with a diverse selection of products. The leather and shoe industries, in particular. Bangladesh can attract more investments in this area because its leather quality is superior to that of higher-end brands.
Since Spain leads the world in agro-processing and agricultural production, Bangladesh stands to benefit from a closer agricultural partnership with Spain. Spain's technological know-how and experience could help Bangladesh advance in this field. On the other hand, the Spanish business community can create business relationships with Bangladesh in several industries, such as the rapidly growing IT sector, healthcare, and education.
Spain and Bangladesh have a developing partnership built on trust, respect, and mutual gain
Due to their advantageous locations in their respective regions, Bangladesh and Spain enjoy easy access to ports and major sea lanes. Spain's location near the Atlantic and Mediterranean seas makes it a major hub for maritime trade in Europe today. Barcelona, Valencia, and Algeciras are three of its top 10 ports in Europe. These ports link Spain with other continents and manage a considerable number of passengers and freight.
Being located in the Bay of Bengal, a crucial sea lattice connecting the Indian and Pacific oceans, gives Bangladesh another important nautical advantage. Enhancement of maritime cooperation thus, is anticipated during PM Sheikh Hasina's visit, particularly in the areas of port development, shipping, logistics, port administration, security, and efficiency.
Spain and Bangladesh both have similar interests and ideals in the local and international spheres. In addition to tackling the shared problems of the twenty-first century, such as cybercrime, terrorism, and climate change, both nations are dedicated to advancing an open, transparent, and rule-based international order.
Spain has welcomed the Indo-Pacific Outlook (IPO), launched by Bangladesh and supports the initiatives and platforms for dialogue and cooperation in the Indo-Pacific region, such as the ASEAN, the BIMSTEC, and the IORA.
Additionally, in international forums such as the United Nations, the Commonwealth, and the Non-Aligned Movement, the two countries have cooperated. Within these groups, they have supported each other's candidacies for a range of committees and positions. They have also worked together on issues that they both find important, such as the Covid-19 pandemic, the LDC graduation, and the Rohingya tragedy.
Spain and Bangladesh have a developing partnership built on trust, respect, and mutual gain. In terms of commerce, investment, marine cooperation and strategic collaboration, the two nations have much to offer each other and the rest of the globe. As the two nations have shown that they are capable of rising to the occasion and embracing the difficulties that lie ahead, surely, the relations between the two have a bright and hopeful future.
Md Mustakim Ahmed is a teacher and a freelance contributor.
