Bangladesh's interim government, led by Muhammad Yunus is set to sign a trade agreement with the United States minutes before the elections, raising questions and concerns across political and business circles. The government has not disclosed any information regarding what the draft and terms of the agreement will be, or why it is being signed just three days before the election. Indications suggest the agreement is being signed on the condition that its contents remain confidential.
This secrecy surrounding the agreement in Dhaka has spread anxiety in various quarters. Some analysts believe this is not merely a trade agreement with the United States, but one with long-term economic, political, and geopolitical implications. Therefore, they argue that discussions with all relevant parties were necessary before signing such an agreement. Center for Policy Dialogue (CPD) fellow Debapriya Bhattacharya said that keeping the draft secret leaves no opportunity to analyse the pros and cons of the agreement. If it were done after the election, at least all parties could have discussed it.
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Diplomatic passport surrender triggers speculation
Meanwhile, speculation has surfaced over at least seven of Yunus’s advisors surrendering their diplomatic passports just before the election. Many have reportedly applied for new passports and visas. After these two developments came to light, signs of concern emerged among policymakers and political circles. Some fear that government advisors are surrendering their red passports in advance and reactivating their previous passports with visas to leave the country after the election.
Questions were raised about whether Foreign Advisor Touhid Hossain is among them. When questioned by the media, Touhid claimed that he has not surrendered his passport. Finance Advisor Salehuddin Ahmed, however, stated that he has submitted his diplomatic passport but will not “go anywhere.”
According to sources, between January 20 and February 2, advisors handling finance, power and energy, home affairs, environment, and primary and mass education submitted their diplomatic passports. Another source mentioned three more advisors and two special assistants to the chief advisor, but this could not be confirmed. Touhid reiterated, “Neither I nor my wife have submitted our passports.”
Uncertainty over agreement
While government advisors are surrendering their diplomatic passports before their terms end, news of a secret trade agreement with the United States has created a stir in parts of the country. The agreement is scheduled to be signed in the United States on February 9. According to sources, responsibility for implementing the agreement will fall on the next government.
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Questions continue to be raised over why the draft or terms of the agreement remain undisclosed. On Monday, Security Advisor Khalilur Rahman held a private meeting with the foreign advisor. However, Foreign Advisor Touhid refused to disclose details, describing the matter as “extremely confidential.”
Despite the uncertainty, businesspeople are hoping the agreement may benefit the export sector. However, concerns persist due to the lack of clarity on the conditions attached and the potential impact on industry, commerce, and the market. Debapriya Bhattacharya noted that the government has previously retreated from initiatives after facing setbacks and has quietly concluded agreements with foreign entities on sensitive issues. “Whether the incoming elected government’s hands and feet are being tied is also a matter to consider,” he said.
