The centre of gravity of the global economy is shifting towards Asia, creating a major economic opportunity for Bangladesh, economist Rehman Sobhan said.
Capturing it will require stronger economic stability and institutional reform at home alongside deeper links with Asian markets and regional supply chains, he said.
Prime Minister Tarique Rahman said the government was advancing reforms towards that goal.
The remarks came at the Bay of Bengal Conversation (BOBC) 2026, a three-day international conference in Dhaka organised by the Centre for Governance Studies (CGS).
Speaking at the opening session on Saturday, the prime minister said protecting national interests, maintaining policy continuity, ensuring economic stability and carrying out institutional reforms were government priorities.
“We are now moving directly from commitments to implementation,” he said.
Tarique Rahman said the government was working to make Bangladesh an attractive investment destination and transform it into a stronger production and investment hub, while creating broad-based employment across manufacturing, services and exports.
He stressed policy certainty for investors, saying continuity in long-term policies would provide the assurance they need.
“Strong state institutions are essential for development. We are strengthening institutional transparency and accountability,” he said.
Tarique Rahman identified the Bay of Bengal as a foundation of Bangladesh’s future economic potential, citing its geographic and strategic position.
“Bangladesh has an opportunity to connect more deeply with the world through seaports, waterways and the coastal economy. There is enormous potential in shipping, fisheries, tourism, energy and regional supply chains,” he said.
He also called for deeper bilateral and multilateral engagement to turn the region’s shared geography into shared prosperity.
Speaking at an afternoon session, Rehman Sobhan, chairman of the Centre for Policy Dialogue, said the rise of China and India was increasing trade, investment and technology exchange among Asian countries.
He said the global economic order was changing as the influence long exercised by Western countries declined and Asian economies strengthened their export capabilities.
Asia was also gaining technological strength, with China advancing in artificial intelligence and other technology sectors as well as research and intellectual property, he said.
Rehman Sobhan said the United States was using tariffs to pressure countries, including by asking some to buy more US goods to reduce their trade deficits. Pressure was also being applied over investment and trade policies, while some European countries were taking similar measures, he said.
The retreat from globalisation had weakened international institutions such as the World Trade Organization (WTO), he said, but Asia’s economic rise would be difficult to stop.
China has already surpassed the United States in GDP measured by purchasing power parity, Sobhan said, adding that it could also overtake the US in nominal GDP in the future.
For Bangladesh, he said, deeper economic engagement with Asia was increasingly important. Exports remain dependent on a handful of markets, while a large share of imports and growing capital flows come from Asia.
Bangladesh’s position as a neighbour of China and India is one of its biggest advantages, Sobhan said. China could become the world’s largest economy and India the third-largest within the next decade, but Bangladesh has yet to fully exploit export opportunities in their vast markets.
This year’s BOBC is being held under the theme “Fragments, Frontiers and Futures: Navigating Power, Technology and Trust in a World Rewritten”.
The conference will run from 3 to 5 October, with nearly 200 speakers from more than 100 countries, over 300 delegates and more than 1,000 participants expected to attend.
