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Diplomacy of any country can seek new opportunities that bear long-term benefits for that country economically and technologically. In contrast, animosity among countries may cause hindrances at the state level or geopolitical issues that sometimes result in war.
Conflict or war does not limit itself between those countries involved there; instead, it spreads its wings to the global economy, which causes inflation, fuel shortage, destruction in the supply chain, trade sanctions, and many more. However, liberal diplomacy may expand international cooperation, strengthen trade volume, and augment goodwill on the global stage, which is only possible by enacting conciliatory foreign policies.
Bangladesh is now at the epicentre of South Asian geopolitics, especially after the fall of Sheikh Hasina's regime. When the interim government took power, Bangladesh's diplomacy took on a new dimension, as world leaders expressed their consent to work closely with that government.
The worldwide acceptability of Professor Dr. Muhammad Yunus, Chief Advisor of the Interim Government of Bangladesh, attracted the attention of world leaders to achieve economic and social cooperation.
Bangladesh's diplomatic relationships with India and Pakistan are changing.
India's liberal foreign policies are in turmoil, and the polarised relationship between Bangladesh and Pakistan is getting better, which puts India in a different position.
Global politics is now mainly divided into two major blocks, with the USA and most European countries in one block and China and Russia in another.
Bangladesh once tried to cope with the two blocks through balanced diplomacy regarding trading, financing, or military issues, as Bangladesh believes in liberal diplomacy.
Though the world leaders of those blocks did not interfere too much in that issue, currently, those countries, especially the US-baked block, are indirectly forced to clear the position for any specific block, where the weak democracy and highly questionable elections in Hasina's regime opened the door for diplomatic pressure.
China, Russia, and Iran are now handling Western sanctions on financial and military fields, which denotes the strong economic pillar of those countries, as they are financially and technologically developed.
The example may not be appropriate for Bangladesh, as the country largely depends on Western countries for trade, military assistance, and social cooperation. Bangladesh will have to face obstacles to running smoothly if it breaks strong diplomatic ties with Western countries.
Bangladesh's prime export business is Ready-made Garments (RMG). The European Union is the largest market, and the USA is the leading buyer of RMG products in individual countries.
It clearly states that Bangladesh's economic stability greatly depends on the smooth circulation of RMG products to Western countries. Any hindrance in that tie may cause considerable financial losses, which will also cause unemployment and inflation.
So, Bangladesh must nurture a strong diplomatic relationship with those countries by maintaining tactical foreign policies.
China also invests heavily in Bangladesh's projects. Russia's technological support can not be ignored, as the country is also Bangladesh's development partner.
This picturesque condition denotes the significance of the China-Russia diplomatic relationship, which Bangladesh should maintain prudently for further advancement of the economy and infrastructure.
Bangladesh should enact its foreign policies carefully so that the country can manage a strong relationship with the two blocs. This is possible by excluding extreme dependency on any particular block in terms of financing and military assistance.
Especially while signing military cooperation or joining military groups, Bangladesh should be careful with tactics and avoid proposals that may be destructive to any country or block.
The country's weak democracy may allow the superpowers, especially the USA and its alliance countries, to pressure Bangladesh. However, their ultimate goal may not be to establish democracy in the country. Instead, they may be pressured to implement their agenda.
If they want democracy, then why are they supporting Israeli genocide in Palestine?
Though the ultimate goal of their pressure is known to all, it should be remembered that Bangladesh's democracy should be strong to ensure freedom of speech and protect the voting rights of the people. This will also close the path of diplomatic interference in Bangladesh.
Dr. Delwar Hossain is a Professor at the Department of International Relations at the University of Dhaka. He shared his opinions on Bangladesh's foreign policies to achieve economic stability.
He said, "Bangladesh is geopolitically important to the world's superpowers, and they want to keep this country on their side. So, Bangladesh needs to be proactive rather than reactive to create a balance among those superpowers. Also, Bangladesh must prioritise its national interests when deciding on any diplomatic issue."
"If Bangladesh does not attack the sovereignty of a country, then there may not be diplomatic pressures from any country. Also, Bangladesh should be tactical when making decisions for India and China in South Asia, as they are economically stronger than we are," added Professor Delwar.
The diplomatic relationship between Bangladesh and Japan can be an example of good diplomacy, as the two countries always maintain a strong tie in cooperation.
Japan has made a vast investment in Bangladesh and financial and technological support for various projects.
Dr. Md Jahangir Alam is the Chairman of the Department of Japanese Studies at the University of Dhaka. He explained how it has become possible to have a strong diplomatic relationship between Bangladesh and Japan at all times.
He said, "Japan's tactical diplomacy might reinforce Bangladesh to assure global assistance through strategic alliances that preach regional security, climate change, infrastructure expansion, and regional connectivity. Facilitating mutually beneficial concurrences, such as the EPA (Economic Partnership Agreement), might guarantee reciprocal financial miracles and elevate long-term cooperation."
Answering the question of how Bangladesh can strengthen its diplomacy with Japan to attract Japanese businessmen to invest in Bangladesh, he said, "Bangladesh might reinforce its strategic discretion with Japan by mitigating the trade deficit, assuring durable business possibilities, spotlighting alliance loyalties, and simplifying the government service approach to guarantee smooth and uninterrupted business flow."
Being geopolitically important, Bangladesh must tactfully enact its foreign policies, as any hostile policy may cause long-term economic obstacles. Also, the policies for the neighbouring countries should be well-planned, and the sovereignty of each country should be protected. Moreover, the democratic rights of the people must be ensured to be accepted in both the country and worldwide, which will represent the goodwill of Bangladesh globally.