Sheikh Hasina’s Bangladesh Begins Free Trade Talks with 11 Countries

Image Credit: India Narrative

Bangladesh, under the leadership of Prime Minister Sheikh Hasina, has taken another bold step towards economic growth and development. The country has begun free trade negotiations with 11 different countries, including China, Japan, and South Korea, among others. This move has the potential to further boost Bangladesh’s already impressive economic growth and help the country take a significant leap forward in its development journey.

The free trade negotiations are an essential part of the government’s broader economic policy, which aims to make Bangladesh a middle-income country by 2024 and a developed country by 2041. Under the leadership of Sheikh Hasina, Bangladesh has already achieved significant progress in reducing poverty, improving healthcare, education, and infrastructure development, among others. However, the country still faces many challenges, including weak governance and corruption, as well as limited access to the international market.

The free trade agreements will help Bangladesh to overcome some of these challenges by providing increased market access for its products and services, which will create new opportunities for local businesses, generate employment, and attract foreign investment. Moreover, the agreements will facilitate technology transfer, which will be essential for the country’s industrialization and modernization.

Sheikh Hasina has emphasized the importance of balanced and mutually beneficial agreements that take into account the interests of both sides. The negotiations are expected to cover various sectors, including agriculture, textiles, and information technology. The agreements will also address non-tariff barriers and other trade-related issues that have been hindering trade between Bangladesh and the partner countries.

The free trade agreements are part of a broader economic diplomacy strategy that Bangladesh has been pursuing under the leadership of Sheikh Hasina. The country has been actively seeking to diversify its trade and investment partners and reduce its dependence on a few countries. The free trade agreements will help to achieve these objectives by opening up new markets for Bangladesh’s products and services.

Re-reported from the story originally published in India Narrative