Bangladesh eyes energy, food security cooperation after new GCC deal

DHAKA: Bangladesh is planning to tap into cooperation possibilities with Gulf countries, focusing on energy and food security after a recent agreement on future partnerships with the Gulf Cooperation Council.
Dhaka and the GCC — an intergovernmental economic union of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE — signed a memorandum establishing a framework for cooperation on Nov. 18.
The deal was reached on the sidelines of the Manama Dialogue regional security conference in Bahrain by Bangladeshi Minister of Foreign Affairs Dr. A.K. Abdul Momen and GCC Secretary-General Dr. Nayef bin Falah Al-Hajraf.
“Energy cooperation is one of our topmost priority issues which will be discussed during joint consultation. Besides, boosting political cooperation will also be a priority area,” Iqbal Hussain Khan, director general of West Asia at the Bangladeshi Ministry of Foreign Affairs told Arab News over the weekend.
He added that as Gulf countries had lately been focused on ensuring food security, Bangladesh — a major seafood and vegetable exporter — would also try to identify potential areas of cooperation in that sector.
“We will sit with GCC authorities for detailing the cooperation areas and fixing the road map within the shortest possible time which is mutually convenient for both the parties,” Khan said.
“We have huge potential for boosting cooperation with Gulf countries since nowadays regional organizations are becoming stronger.”
More details and specific proposals are expected to be announced after upcoming talks between Bangladeshi and GCC authorities.
“Let the discussions begin first. Very soon we will contact the GCC to start the first round of discussions,” Khan added.
The cooperation was likely to help Bangladesh with energy security.
Bangladesh, which is dependent on imported liquefied natural gas, has been struggling with an energy crisis for the past couple of months. In early October, some 80 percent of its 168 million people were left without electricity after a grid failure, which occurred when more than one-third of the country’s gas-powered units were short of fuel.
“Energy security is another big area of cooperation for Bangladesh. Through a long-term arrangement, during bilateral trade talks for a preferential trade agreement or free trade agreement, we must include the oil supply issues to be ensured,” Zahid Hussain, former lead economist at the World Bank in Dhaka, told Arab News.
He added that the future cooperation would also benefit Bangladeshi migrant workers — 90 percent of whom live and work in GCC countries.
“In the case of migrant labor exports, cooperation from the GCC nations will be very important. We need to work to reduce the cost of migration as well as increasing workplace safety, job security, and ensuring earning security,” he said. “In the long run, it will benefit the GCC countries also since they also need migrant workers from this region.”