Japan to upgrade 'Big B' initiative with Bangladesh

The Prime Minister of Japan, Sanae Takaichi, on Tuesday said that under the new strategic cooperation with Bangladesh, they will upgrade the Big-B (Bay of Bengal Industrial Growth Belt) initiative.

"Advancing the bilateral relationship, we will upgrade the "Big B" initiative and promote it as a new strategic cooperation initiative shared by both countries", Sanae Takaichi, the Prime Minister of Japan, said after meeting with Bangladesh Prime Minister Tarique Rahman.

The Prime Minister of Bangladesh, Tarique Rahman, is currently in Japan for a four-day visit, and on the second day of his trip, he met with the Japanese Prime Minister. After the meeting, both Prime Ministers gave separate statements, but the Japanese Prime Minister said that she encouraged cooperation to boost connectivity between South Asia and Southeast Asia, and in this regard, he emphasised advancing the Big-B initiative even further.

"Japan is committed to leading the development of the Bengal region. Japan is actively involved in strengthening the supply chain network connectivity and promoting investment in the region", she added.
The Japanese Prime Minister mentioned four key pillars of relations with Bangladesh: Strengthening connectivity; preparing for disaster and geopolitical risks; promoting economic growth and preventing economic growth machine losses to ensure rule-based peace and stability and cooperating based on regional peace and stability so that both countries can develop and prosper together.

"Over the next 5 years, private investment totalling about 1 trillion yen is anticipated. The immense potential of Bangladesh, connecting South Asia and Southeast Asia, is extremely important for Japan's economy. By cooperating closely—such as initiating and early issuance of an EPA (Economic Partnership Agreement)—we will further promote our economic relationship", Takaichi said.
"To strengthen maritime security capabilities ahead of future security needs, we have newly decided to provide Official Development Assistance (ODA) through Joint-Sentry exercises. We will also continue our cooperation in the OSA and defence cooperation to contribute to regional peace and stability", the Japanese Prime Minister said.

"As strategic partners with a vision for the future, Japan and Bangladesh will work together strongly and richly to build a new era of Japan-Bangladesh relations", she said.
Prime Minister of Bangladesh, Tarique Rahman, has joined a summit meeting with the Prime Minister of Japan, Sanae Takaichi. - ANI