'Unnecessary remarks of FM will weaken Bangladesh’s bargaining position'

South Asian Network on Economic Modeling (SANEM) Executive Director Selim Raihan has said the recent statement of Foreign Minister AK Abdul Momen on seeking India's backing to keep Prime Minister Sheikh Hasina in power will weaken country's bargaining position for economic partnerships. 

"As a student of political economy, I can say such unnecessary remarks from the top of important ministries will weaken our bargaining position in important areas," he wrote on his Facebook handle Saturday (20 August). 

He also claimed that Momen's statement has tarnished the image of Bangladesh. 

Bangladesh is now in various negotiations and processes for closer economic and trade relations with countries in the global and regional context such as the proposed Comprehensive Economic Partnership Agreement (CEPA) with India, wrote the Sanem chief. 

He also noted that these economic and trade agreement processes require a lot of bargaining to protect the country's interests efficiently which can be hindered by such remarks. 

Earlier at a Janmashtami programme in Chattogram on Thursday, Foreign Minister AK Abdul Momen reportedly said that he urged the Indian government to back Prime Minister Sheikh Hasina so that she can stay in power.

His statement sparked controversy on social media platforms. 

Earlier this week, Prime Minister Sheikh Hasina gave her seal of approval to a proposal to begin formal negotiations toward signing the CEPA with India. 

Bangladesh is thus for the first time going to officially start negotiations on signing a free trade agreement (FTA) with any country.

The CEPA is a little different from the FTA as it covers many issues, including trade in goods and services, investment, intellectual property rights and e-commerce.

According to the summary of what Bangladesh and India will gain from the trade deal once it is signed, Bangladesh's export earnings will shoot up by 190% and India's by 188%.