In an era defined by globalization and multipolarity, economic diplomacy has become a cornerstone for nations seeking to diversify their trade networks and establish strategic international partnerships. For Bangladesh, a rising economic power in South Asia, Latin America represents an uncharted yet promising frontier. Despite geographical distance, cultural differences, and historically limited engagements, this study explores the transformative potential of economic diplomacy in reshaping Bangladesh's diplomatic and economic relations with Latin American nations. Latin America, encompassing 13 independent nations and marked by a history of resource-driven growth, industrial expansion, and integration efforts like MERCOSUR, offers substantial opportunities. Its markets display growing demand for Bangladeshi exports such as ready-made garments, pharmaceuticals, IT services, and leather goods. Conversely, the region's rich agricultural outputs, mineral resources, and industrial products provide Bangladesh with access to cost-effective imports. However, despite the visible economic synergies, trade relations remain nascent, with Bangladesh lagging behind regional peers like India and China. For example, India's trade volume with Latin America reached $50 billion in 2022, while Bangladesh's trade remains modest at $621 million during the fiscal year 2022–2023, although showing promising growth. This research highlights the pivotal role of economic diplomacy in overcoming entrenched barriers to bilateral engagement. Key obstacles include logistical complexities, the absence of direct shipping routes, cultural and linguistic differences, and diverse regulatory frameworks. Additionally, Bangladesh's diplomatic footprint in Latin America remains minimal, with missions only in Mexico and Brazil, limiting its ability to foster sustained economic and political ties. Yet, recent developments, such as Argentina reopening its embassy in Dhaka after 45 years, signal a renewed momentum in Bangladesh–Latin American relations. Drawing on a mixed-method approach that combines secondary data analysis with expert interviews, this study examines the potential for Bangladesh to emulate successful economic diplomacy practices demonstrated by India and China in the region. It delves into strategies for leveraging technological advancements, such as improved maritime communication and digital diplomacy, to bridge geographical divides. Moreover, it explores the impact of global geopolitical shifts—such as the U.S.-China rivalry—on creating new trade opportunities for Bangladesh in Latin America. The research posits that strategic economic diplomacy can unlock vast potential in bilateral trade. It advocates for sector-specific collaborations in areas like textiles, agro-industrial goods, technology transfer, and sustainable energy. Moreover, integrating Bangladesh into regional trade agreements such as MERCOSUR could enhance its access to Latin American markets. In this context, the study underscores the importance of institutional capacity-building, including the establishment of dedicated trade missions and enhanced training for diplomats and trade negotiators. By fostering robust economic ties, both regions stand to benefit from diversified trade portfolios, enhanced export competitiveness, and sustainable development. Latin America can capitalize on Bangladesh’s manufacturing expertise and burgeoning economy, while Bangladesh gains access to new markets and critical resources, reducing dependence on traditional trade partners. Beyond economic gains, such engagement promotes geopolitical stability and mutual understanding, positioning Bangladesh as a significant player in global trade networks. This study contributes to the broader discourse on international economic diplomacy by identifying actionable strategies to strengthen Bangladesh–Latin American relations. It calls for a pragmatic, multi-pronged approach that includes policy innovation, business-to-business engagement, and people-to-people exchanges. Ultimately, this research envisions a future where economic diplomacy catalyzes a dynamic and mutually beneficial partnership between Bangladesh and Latin America, driving shared prosperity and reinforcing their positions in the global economic landscape.

Introduction

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发表日期：

2025年

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Mohammad Tarikul Islam,
Md Belal Hossen

摘要

In an era defined by globalization and multipolarity, economic diplomacy has become a cornerstone for nations seeking to diversify their trade networks and establish strategic international partnerships. For Bangladesh, a rising economic power in South Asia, Latin America represents an uncharted yet promising frontier. Despite geographical distance, cultural differences, and historically limited engagements, this study explores the transformative potential of economic diplomacy in reshaping Bangladesh's diplomatic and economic relations with Latin American nations. Latin America, encompassing 13 independent nations and marked by a history of resource-driven growth, industrial expansion, and integration efforts like MERCOSUR, offers substantial opportunities. Its markets display growing demand for Bangladeshi exports such as ready-made garments, pharmaceuticals, IT services, and leather goods. Conversely, the region's rich agricultural outputs, mineral resources, and industrial products provide Bangladesh with access to cost-effective imports. However, despite the visible economic synergies, trade relations remain nascent, with Bangladesh lagging behind regional peers like India and China. For example, India's trade volume with Latin America reached $50 billion in 2022, while Bangladesh's trade remains modest at $621 million during the fiscal year 2022–2023, although showing promising growth. This research highlights the pivotal role of economic diplomacy in overcoming entrenched barriers to bilateral engagement. Key obstacles include logistical complexities, the absence of direct shipping routes, cultural and linguistic differences, and diverse regulatory frameworks. Additionally, Bangladesh's diplomatic footprint in Latin America remains minimal, with missions only in Mexico and Brazil, limiting its ability to foster sustained economic and political ties. Yet, recent developments, such as Argentina reopening its embassy in Dhaka after 45 years, signal a renewed momentum in Bangladesh–Latin American relations. Drawing on a mixed-method approach that combines secondary data analysis with expert interviews, this study examines the potential for Bangladesh to emulate successful economic diplomacy practices demonstrated by India and China in the region. It delves into strategies for leveraging technological advancements, such as improved maritime communication and digital diplomacy, to bridge geographical divides. Moreover, it explores the impact of global geopolitical shifts—such as the U.S.-China rivalry—on creating new trade opportunities for Bangladesh in Latin America. The research posits that strategic economic diplomacy can unlock vast potential in bilateral trade. It advocates for sector-specific collaborations in areas like textiles, agro-industrial goods, technology transfer, and sustainable energy. Moreover, integrating Bangladesh into regional trade agreements such as MERCOSUR could enhance its access to Latin American markets. In this context, the study underscores the importance of institutional capacity-building, including the establishment of dedicated trade missions and enhanced training for diplomats and trade negotiators. By fostering robust economic ties, both regions stand to benefit from diversified trade portfolios, enhanced export competitiveness, and sustainable development. Latin America can capitalize on Bangladesh’s manufacturing expertise and burgeoning economy, while Bangladesh gains access to new markets and critical resources, reducing dependence on traditional trade partners. Beyond economic gains, such engagement promotes geopolitical stability and mutual understanding, positioning Bangladesh as a significant player in global trade networks. This study contributes to the broader discourse on international economic diplomacy by identifying actionable strategies to strengthen Bangladesh–Latin American relations. It calls for a pragmatic, multi-pronged approach that includes policy innovation, business-to-business engagement, and people-to-people exchanges. Ultimately, this research envisions a future where economic diplomacy catalyzes a dynamic and mutually beneficial partnership between Bangladesh and Latin America, driving shared prosperity and reinforcing their positions in the global economic landscape.