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The current tensions between India and Pakistan are concerning for Bangladesh’s trade and investment, Prof Mustafizur Rahman, distinguished fellow at the Centre for Policy Dialogue (CPD), has said.
“Tensions between the two countries are not a major concern for Bangladesh’s business, trade, and investment, but they are worrying. This is because the potential for a war situation between two nuclear-powered countries may not remain limited to them,” he said, reports Samakal.
He made the remarks today (26 April) while speaking as the chief guest at a student debate competition organised by Debate for Democracy at the Film Development Corporation (FDC) auditorium in Dhaka.
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Mustafizur said the India-Pakistan tensions could further weaken regional cooperation efforts.
“Saarc has not been very active for a long time. The chief adviser of the interim government is trying to increase regional cooperation through Saarc. Meanwhile, tensions have arisen between India and Pakistan,” he noted.
He expressed hope that, as in the past, the crisis would be resolved through discussions.
Speaking on trade relations, the economist said, “Bangladesh imports a large amount of goods from India. Exports to that country are lower compared to imports. Bangladesh enjoys duty-free access for exporting goods to the Indian market. It took Bangladesh 40 years to reach $1 billion in exports to India. It reached $2 billion in the next seven years.”
He warned that if India shifts its focus more towards the military sector due to ongoing tensions, its trade could be affected, which in turn may impact Bangladesh.
Commenting on investment prospects, he said, “Investment promises are not the final word. A supportive environment must be ensured to attract investment.”
He added that any delay in elections could create uncertainty for investment.
At the shadow parliament debate competition, held on the topic “Recent investment conference has created the possibility of foreign investment,” the Eden College team, representing the opposition, was declared the winner.
Debaters from Dhaka College participated as the government team. Hasan Ahmed Chowdhury Kiran, chairman of Debate for Democracy, presided over the event.
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