Bangladesh, Feb. 7 -- The potential for deeper integration between the Gulf Cooperation Council (GCC) and Latin America has significantly increased in light of recent global developments. The wars in Ukraine and Gaza have weakened the international system, diminishing the influence of international law and paralyzing key multilateral institutions such as the United Nations Security Council. This fragile geopolitical environment has also had a significant impact on economic relations, with multiple undeclared trade wars emerging between global powers like the United States, China, and the European Union.

US President Donald Trumps economic nationalism, which included proposing high tariffs on Canada and Mexico along with restrictions on t...