THE INDIAN OCEAN RIM INITlATIVE: BANGLADESH'S INTERESTS AND ROLE

This article examines the emerging Indian Ocean Rim Initiative for Regional Cooperation (IOR-ARC) and analyzes the national interests and potential role for Bangladesh within this new framework. It traces the origins of the initiative and explores its primary objective of promoting economic cooperation among the littoral states of the Indian Ocean. The study assesses the potential benefits for Bangladesh from participating in such a forum, including expanded market access, attraction of foreign investment, and enhanced cooperation in sectors like trade, shipping, and technology transfer. The research also identifies the potential challenges and the need for Bangladesh to clearly define its strategic priorities within the initiative. The paper argues that as a country with a significant stake in the maritime economy of the Bay of Bengal, Bangladesh has a vital interest in shaping the new regional architecture. The analysis concludes with recommendations for a proactive and engaged role for Bangladesh in the IOR-ARC.

The mid-1990s saw the birth of a new and ambitious project for regional cooperation: the Indian Ocean Rim Initiative. This paper provides a comprehensive analysis of this initiative from the perspective of Bangladesh's national interests. The study begins by outlining the geostrategic and geo-economic rationale for creating a cooperative framework for the Indian Ocean, a vast maritime space of critical importance for global trade and security. The core of the article is an in-depth examination of Bangladesh's specific interests in this new regional grouping. It argues that participation offers a vital opportunity for Bangladesh to diversify its economic partnerships beyond its immediate South Asian neighbors. The paper explores the potential for enhanced trade with the dynamic economies of Southeast Asia, Australia, and Southern Africa, all part of the Indian Ocean Rim. It also discusses the scope for cooperation in non-traditional security areas, such as disaster management, environmental protection, and combating piracy, which are of direct concern to Bangladesh. The final section of the paper discusses the potential role that Bangladesh could play. It suggests that Bangladesh, given its strategic location at the head of the Bay of Bengal, can act as a crucial bridge between South and Southeast Asia within the broader IOR framework. The findings lead to a strong recommendation for a proactive diplomatic strategy to ensure that Bangladesh's interests are effectively represented and advanced in this emerging and important regional forum.