Collective action needed to address energy crisis
Foreign Minister Dr Khalilur Rahman has urged for urgent global cooperation to tackle the ongoing energy crisis, warning that its consequences will continue to affect economies and multilateral relations long after any short-term ceasefire.
Addressing the 9th Indian Ocean Conference (IOC 2026) in Mauritius on Friday, Dr Khalilur stressed that the energy crisis was not a challenge that could be swiftly resolved.
“There might be a ceasefire, but the energy issue is not going to be resolved within two weeks,” he said, underlining the long-term disruptions caused by the ongoing energy shortages.
He further cautioned that even if the immediate situation improves, the long-term decline in multilateralism would remain a significant issue.
“The energy crisis is creating global disruptions that will reverberate for years,” he explained.
“Even with a resolution, we still face the broader issue of weakening multilateral cooperation,” he added, highlighting the erosion of global trust.
The Foreign Minister compared the current crisis to the oil shocks of the 1970s, noting that some experts predict the current energy crisis could have an even greater impact.
“If the effects of the current crisis are going to be larger than the shocks of the 1970s, we can only imagine the risks we are facing,” he warned.
Dr Khalilur also addressed the broader challenge to multilateralism, pointing out the rise of unilateral actions that have undermined international cooperation.
“They are no longer helping us effectively in dealing with these issues. This is a time for collective action because individual countries will not be able to meet these challenges on their own,” he stated.
To mitigate these global risks, Dr Khalilur proposed the development of a “Shared Cooperative Vision” for the Indian Ocean region, urging regional stakeholders and institutions, such as the India Foundation, to lead the way in fostering a coordinated and inclusive framework for cooperation.
He emphasised that the Indian Ocean region should not be a source of division, but a space for unity, sustainable development, and shared prosperity.
Referring to the current state of the Indian Ocean region, Dr Khalilur acknowledged its turbulent phase, with severe energy challenges impacting economies and societies.
“In these overwhelming times, our blue waters must unite, sustain, and inspire us more than ever before,” he added.
In his address, Dr Khalilur reaffirmed Bangladesh’s regional diplomatic priorities, stressing continued support for strengthening SAARC and highlighted Bangladesh’s current role as the chair of BIMSTEC.
He emphasised initiatives aimed at enhancing livelihoods and economic resilience across member states.
Dr Khalilur also spotlighted the importance of small and medium enterprises (SMEs), particularly women-led businesses, as drivers of inclusive economic growth in the region.
He called for more investment in youth skills development, especially in technology and artificial intelligence, to harness emerging opportunities.
Additionally, he raised concerns about the Bay of Bengal’s structural challenges, including underdeveloped marine resources, over-reliance on traditional fishing practices, and the growing climate-related risks such as cyclones linked to climate change.
He urged participating nations to go beyond declarations and focus on actionable initiatives that deliver real economic and social outcomes for the region’s people.
The conference, hosted by the India Foundation in association with the Government of Mauritius and India’s Ministry of External Affairs, is being held under the theme “Collective Stewardship for Indian Ocean Governance.” Indian External Affairs Minister Dr S. Jaishankar, among others, also addressed the conference.
