This is expected to expand supply chain networks and regional transport links across South Asia and Southeast Asia spanning Bangladesh's Matarbari deep-sea port, Northeast India, Nepal, and Bhutan.
Also Read: Japan to connect landlocked North East with Bangladesh
Japan and Bangladesh decided to upgrade their 2014 BIG-B initiative, into a broader "Big-B for Shared Prosperity" framework, aimed at safeguarding their economic autonomy and addressing geopolitical risks, according to a joint statement issued after the meeting of the two PMs.
The initiative revolves around the Matarbari port being built with Japanese assistance. Tokyo is also focused on taking forward initiatives launched during the erstwhile Sheikh Hasina government's rule.
Addressing a joint press meet with Rahman Tuesday, Takaichi said, "Bangladesh and Japan are important partners in realising the updated Free and Open Indo-Pacific (FOIP)."
"Prime Minister Rahman is leading the development of the Bay of Bengal region," she said. "Japan is working to strengthen supply chains and connectivity in the Bay of Bengal region and promote trade and investment. On this occasion, we confirmed that we would upgrade the Bay of Bengal…