"Smaller states are facing an increasing challenge to preserve their national interests as they come under enhanced pressure to sacrifice their future for the present needs of others."

Sabihuddin was speaking on 'Globalisation and the challenges facing Bangladesh' at the International Institute of Strategic Studies (IISS) in London on June 30, according to a message received in Dhaka.

He said, "Overcoming certain misperceptions about my country and bringing it out of the ugly shadows generated by misinformation sometimes seem the biggest challenge."

"Whatever we as a nation have achieved since independence have come as part of our victories in our persistent struggle on numerous fronts in an increasingly globalised world."

Referring to Bangladesh's achievement with regard to women empowerment, he said, "If one wants to see how a traditional Muslim society empowers its women politically, economically and socio-culturally, one must study the Bangladesh case."

The high commissioner also pointed out, "As the current chair of Saarc and Bimstec, Bangladesh is actively pursuing implementation of the Saarc Free Trade Agreement and Bimstec FTA."

"Energy requirement remains one of the top challenges for achieving a sustained economic growth of 6 to 7 percent, a pre-requisite for realising the MDGs," he said.

"The soaring rise in oil prices on the international markets is already placing a tremendous burden on the economy and import bills on account of fuel."

About the demand for gas export by some oil and gas exploration companies, the high commissioner said, "The issue is of vital national interest and all decisions (in this regard) are being taken in the light of a growing national energy need as against the comparative benefits of exports."

Representatives from different business and investment organisations and think-tanks attended the exclusive session on Bangladesh, chaired by IISS Director Patrick Cronin.