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Abstract
This article provides a preliminary assessment of the state of economic relations between the Russian Federation and Bangladesh a decade after the collapse of the Soviet Union. It traces the history of the relationship from the strong Soviet support for Bangladesh's independence and the significant development assistance in the 1970s. The study then analyzes the decline and reconfiguration of the relationship in the post-Soviet era. The research examines the key dimensions of the contemporary economic relationship, focusing on the very low levels of bilateral trade and investment. The paper identifies the potential for revitalizing economic ties, particularly in areas like energy, heavy industry, and technical cooperation, but also highlights the significant obstacles, including the lack of institutional linkages and limited knowledge of each other's markets. The analysis concludes that the once-strong economic partnership had yet to find a new footing in the post-Cold War world.
Full Text
The relationship between Moscow and Dhaka, which was exceptionally close in the immediate post-independence years of Bangladesh, underwent a profound transformation with the dissolution of the Soviet Union. This paper offers a preliminary assessment of the economic dimension of this relationship in the new era. The analysis begins with a historical retrospective, reminding readers of the crucial economic and technical assistance provided by the Soviet Union in the 1970s, which helped build some of Bangladesh's key industrial and energy infrastructure. The core of the article is an examination of the state of the relationship in the 1990s and early 2000s. It presents data that shows a dramatic decline in economic engagement, with bilateral trade shrinking to negligible levels and the once-significant aid relationship coming to a virtual halt. The paper explores the reasons for this decline, linking it to Russia's own severe post-Soviet economic crisis and its inward-looking foreign policy during this period. The study then shifts to a forward-looking perspective, exploring the potential for a revival of economic ties. It identifies possible areas of synergy, given Russia's expertise in heavy industry and energy and Bangladesh's growing need for infrastructure development. The findings, however, suggest a cautious outlook. The paper concludes that rebuilding the economic relationship would require a concerted political effort from both sides to overcome years of neglect and to create new institutional mechanisms to facilitate trade and investment in a completely changed global and domestic context.