The Bangladesh Textile Mills Association (BTMA) estimates that Bangladesh’s expanding garment industry needs close to 9 million bales of cotton. Less than 2% of them can be supplied locally, forcing Bangladesh to purchase 8.5 million cotton bales at a cost of around $3 billion.
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Closer collaboration with BRICS under BRICS+ mechanism will open doors for Bangladesh to explore new markets and help to bridge the gap between two regional rivals China and India for its own benefits. India’s motivation for remaining in BRICS is not to support China’s global dominance. New Delhi believes it is more advantageous to stay in the BRICS alliance in order to restrain Chinese expansionism by securing multilateral agreements with Beijing. It will also embolden to skirt Western sanctions when it comes to do trading with Russia.
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Young men from Bangladesh travel to the Middle East in search of work. Over time, they transfer money to their family back home, and our nation benefits from these labor-intensive foreign exchange transactions. Over 10 million Bangladeshis, mostly in the Middle East, reside and work abroad. After the clothing industry, they constitute the country’s second-largest source of remittances from abroad.
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Bangladesh, in other terms, does not intend to sway in favor of a particular major power. It maintains its external relations with the world community by pursuing a middle of the road foreign policy that heavily relies on multinational diplomacy.
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China’s multifaceted participation in Bangladesh is now a simple reality, and any attempt by India to challenge it will be ineffective. In Bangladesh, meaningful engagement with China will be critical for India’s security and regional stability in the northeastern states. Despite Western criticism of Bangladesh’s 2018 elections, China and India backed the current Dhaka administration.
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Long-term uncertainty about repatriation may incentivize Rohingya refugees to commit crimes. As a result of the extended ambiguity surrounding their repatriation, many Rohingya are becoming frustrated. Human trafficking, prostitution, and illegal drug trade will become victims of the Rohingya when they realize there is little support for them. As a result, the entire region’s equilibrium may be jeopardized.
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What are the impediments in Russia and the United States’ cooperative relationship? Firstly, the United States and Russia hold fundamentally opposing perspectives on the world order. The United States wants to preserve its global hegemony, whereas Russia supports multipolarity.
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The Iran-Israel standoff sends mixed message across a volatile Middle East, which is reeling from the Arab Spring fallout. US is facing stiff and formidable challenge from Russia. The balance between Iran, Israel, and Saudi Arabia is the most difficult test for Russia’s newfound role as a Middle East balancer.
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For decades, the EU has focused on economic integration rather than power politics. However, as authoritarian regimes have risen to power in many parts of the world and the United States’ leadership has waned, geopolitics has resurfaced with a fury. The EU’s foreign policy is struggling to adapt to the new reality due to its…
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The Ukraine-Russia military conflict has brazenly pitted the West against Russia, and a new Cold War like situation will impose new challenges for Bangladesh. Bangladeshi imports from Russia include cereals, minerals, chemical products, plastic products, metal, machinery and mechanical equipment.
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