Liberalization of higher education services: exploring the prospects and challenges under the 'Australia-Bangladesh Trade and Investment Framework Agreement'

M. Rafiqul Islam, Khorsed Zaman*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

Abstract

This article examines the potential opportunities and challenges for the liberalization of higher education services between Australia and Bangladesh under their recently concluded ‘Trade and Investment Framework Agreement (TIFA)’. Given their complementary economic imperatives, there is strong potential for growth in bilateral trade and investment in higher education services. Australia with its advanced higher education system would benefit from investments in higher education sector in Bangladesh. Bangladesh with its impressive growth performance would require educated, skilled, and knowledge-based workforce to sustain its ongoing economic development. It would benefit from the stock of human resources endowed with the high-quality education and training provided and supplied by the advanced higher education institutions and investors of Australia. This article prescribes ways of promoting and deepening their bilateral economic integration through investing in higher education services, identifies niche areas for additional opportunities, and highlights barriers to be overcome to derive and maximize mutual benefits. Education service is one of the least committed sectors under GATS. Economic growth-oriented bilateral liberalization of trade and investment in higher education services between Australia and Bangladesh is likely to have wider domino effect on others to follow, thus serving as a stepping-stone towards the progressive liberalization of multilateral trade in services under the World Trade Organization (WTO).

Original languageEnglish
Pages (from-to)228-240
Number of pages13
JournalGlobal Trade and Customs Journal
Volume18
Issue number6
DOIs
Publication statusPublished - 2023

Keywords

  • Australia
  • Bangladesh
  • Education Services
  • Higher Education
  • Liberalization
  • Trade in Services

Fingerprint

Dive into the research topics of 'Liberalization of higher education services: exploring the prospects and challenges under the 'Australia-Bangladesh Trade and Investment Framework Agreement''. Together they form a unique fingerprint.

Cite this