The Economic Contributions of the USA to Bangladesh: An Evaluation of Bilateral Relations Over 50 Years
Year: 2024
Type: article
Abstract: Purpose: This research aims to evaluate the dynamics of the bilateral relations between the USA and Bangladesh over the past 50 years, specifically focusing on the USA's economic, humanitarian, and geopolitical contributions to Bangladesh. Methodology: This study primarily utilizes secondary data and descriptive analysis, supplemented by qualitative research, to provide a comprehensive overview of the bilateral relationship. Findings: The research reveals that the USA has played a pivotal role in Bangladesh's economic development through various channels, including foreign aid, grants, foreign direct investment (FDI), and a favorable trade balance where the USA imports more from Bangladesh than it exports. In addition to economic support, the USA has been a critical partner during natural disasters and political crises, exemplified by its substantial aid during the Rohingya refugee crisis in Cox's Bazar since August 2017. The USA has provided $6 billion in aid to Bangladesh since its independence, including $300 million during the COVID-19 pandemic 2021. Practical Implications: Strengthening diplomatic and commercial ties with global economic superpowers like the USA is essential for sustaining Bangladesh's economic growth. This study provides valuable insights into the significance of the USA's contributions and the necessity of fostering stronger bilateral relations. Value: Few studies have thoroughly examined the USA's role in Bangladesh's economic development and bilateral relations, making this research a significant contribution. Research Limitations: The study primarily relies on qualitative data. Future research could incorporate quantitative methods for a more detailed analysis. Keywords: Bangladesh; USA; bilateral relations; FDI; economic contribution; humanitarian aid; geopolitical support.
Institution: International Islamic University Chittagong
Language: English
Field: Social Sciences
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4404722035