Bangladesh considering 'pros and cons' of Indo-Pacific Economic Framework: Momen

Foreign Minister Dr. AK Abdul Momen today said Bangladesh is looking into the "pros and cons" of the Indo-Pacific Economic Framework (IPEF) to determine if Bangladesh will benefit from joining it.

"Recently, there has been debate about the Quad and Indo-Pacific Economic (Framework). To understand the issue, we have requested BIISS to look into it. I am thankful to them. They have submitted one report on it," Momen said.

Momen was speaking as the chief guest at a program titled "BIISS Research Colloquium 2022" in Dhaka. The Bangladesh Institute of International and Strategic Studies (BIISS) organized the event at the BIISS auditorium.

The Quadrilateral Security Dialogue, commonly known as the "Quad", is a strategic security dialogue between Australia, India, Japan, and the United States.

In June this year, the United States briefed Bangladesh on the Indo-Pacific Economic Framework (IPEF) and Bangladesh welcomed additional information on the supply chain resilience and decarbonization pillars of the IPEF.

US Ambassador to Bangladesh Peter Haas recently said the United States and 13 partner countries launched negotiations for the Indo-Pacific Economic Framework, which he described as a "novel economic arrangement" that reflects their collective desire to address 21st century challenges that go beyond trade and investment.

The membership of IPEF reflects the economic diversity of the region as well as the interconnectivity among partner countries that drives economic growth, job creation, and innovation, he said.

IPEF is intended to be open and inclusive to others who wish to join in the future if they share the goals of IPEF and work to achieve those goals.

"We will continue to work on these issues and grow our economic partnership bilaterally with all nations, including Bangladesh," said the US ambassador.

BIISS Chairman Ambassador Kazi Imtiaz Hossain and its Director General Major General Sheikh Pasha Habib Uddin spoke at the event on Tuesday.

The event was divided into three sessions. In each session, three speakers presented their recent research that concerns Bangladesh's national interest.

The session one was on Bangladesh's regional and global outreach which was chaired by BIISS Chairman.

Session two was on security and strategic affairs chaired by former Chief of Army Staff of Bangladesh, General (retd) Md Abdul Mubeen.

The third session highlighted "Diplomacy and Negotiations" which was chaired by Professor Dr. Imtiaz Ahmed.