In an era of geopolitical volatility and economic restructuring, the burgeoning relationship between Bangladesh and Türkiye offers a compelling case study in South-South cooperation. While historical ties and shared cultural values have long connected these two nations, the potential for a deeper, more strategic alliance remains largely untapped.
The economic relationship between Bangladesh and Türkiye is currently characterized by promising, but still relatively modest, trade volumes. In fiscal year 2023-24, Bangladesh's exports to Türkiye reached $581 million, while imports stood at $424 million. While this existing trade balance provides a solid foundation for further growth, the real opportunity lies in fostering deeper industrial collaboration.
During a recent meeting with Trade Minister Ömer Bolat, chief adviser Muhammad Yunus explicitly urged Türkiye to relocate factories and increase investments in Bangladesh, emphasizing the potential to leverage the country's youthful workforce to meet regional demands. This proposal is not merely aspirational; it reflects a pragmatic assessment of Bangladesh's strategic geographic location and its burgeoning economy, positioning it as an ideal hub for Turkish manufacturing and defense industries.
In a world increasingly characterized by multipolarity, strategic partnerships are essential for navigating complex geopolitical challenges. Türkiye, recognized as a rising power on the global stage, views Bangladesh as a nation with both historical depth and future promise. Bangladesh's emergence as an economic force in Asia and its geostrategic importance make it a critical partner for Türkiye in the region.
On the one hand, Türkiye's proactive diplomacy within the Muslim world has undeniably bolstered its global standing. Bangladesh can leverage this partnership to enhance its own geopolitical influence, particularly within international forums. Deeper cooperation between Bangladesh and Türkiye can potentially reduce dependence on Western and regional powers in foreign policy decision-making.
On the other hand, there is Türkiye's Asia Anew Initiative (ANI), launched in 2019, which aims to diversify its diplomatic relations with Asian countries, placing greater emphasis on cooperation and coordination through institutional mechanisms. As part of the ANI, Türkiye is actively seeking closer ties with Bangladesh, recognizing it as one of its oldest partners. It has been hosting millions of Syrian refugees in the last decade, while Bangladesh has been at the forefront of the Rohingya crisis. Their shared experience could pave the way for a new global migration policy framework. Moreover, their collaboration on humanitarian aid could set a precedent for Global South-led crisis response mechanisms, offering a more localized and culturally sensitive approach to addressing humanitarian needs.
Consider Türkiye's proven expertise in high-tech industries, particularly in defense. By combining this expertise with Bangladesh's large, dynamic workforce, the two nations can potentially spark a joint industrial revolution, driving economic growth and creating new opportunities for their citizens. The upcoming Joint Economic Commission (JEC) meeting between Bangladesh and Türkiye will be crucial in solidifying concrete plans for expanding economic cooperation across many vital sectors, especially in the defense industry. The crucial question is whether this defense cooperation can evolve beyond arms sales to encompass joint training, technology transfer and co-production, fostering a more resilient and self-sufficient security architecture for both nations.
The relationship between Bangladesh and Türkiye stands at a critical juncture. While historical ties and shared values provide a strong foundation, the true potential of this partnership lies in forging a strategic alliance that transcends traditional diplomatic and economic exchanges. By deepening cooperation in trade, investment, defense and humanitarian affairs, Bangladesh and Türkiye can not only bolster their own national interests but also contribute to a more stable, prosperous and equitable world order. The question now is whether both nations have the vision, the political will and the strategic foresight to seize this opportunity.
