Potential Impact of Middle East Conflict on Bangladesh Economy: Hasina’s Concerns

Prime Minister Sheikh Hasina expressed concerns about the potential impact of the conflicting situation in the Middle East on the economy of Bangladesh during a session in parliament on Wednesday. She highlighted the possibility of the conflict affecting various aspects of the country, including social, political, and economic factors.

Sheikh Hasina noted that the instability in the Middle East could lead to a rise in inflation, primarily due to fluctuations in the world market, market management inconsistencies, and increased global fuel prices. Additionally, disruptions in the commodity supply chain could result in higher transportation costs for exports, particularly to Iran and neighboring regions.

The Prime Minister emphasized the need for exporters to be prepared for tougher competition as manufacturing and supply costs increase. She directed relevant ministries and departments to monitor the situation in the Middle East closely and take necessary precautions to mitigate any potential economic impact on Bangladesh.

While acknowledging the uncertainty surrounding the conflict’s magnitude and duration, Sheikh Hasina stressed the importance of supporting the export sector to address any adverse effects. She assured that the government would implement measures to safeguard the economy in case the crisis in the Middle East escalates.

Reiterating Bangladesh’s stance against all forms of conflict, the Prime Minister emphasized the country’s commitment to the principles of friendship and non-hostility, as advocated by the Father of the Nation. She underscored the importance of maintaining peaceful relations with all nations, in line with Bangladesh’s diplomatic philosophy.

As tensions continue to escalate in the Middle East, Sheikh Hasina’s remarks underscore the government’s proactive approach to safeguarding Bangladesh’s economy and ensuring stability in the face of external challenges. The Prime Minister’s call for preparedness and vigilance reflects the government’s commitment to addressing potential economic repercussions from the ongoing conflict in the region.