Published : 27 Oct 2026, 12:16 PM
Updated : 27 Oct 2026, 01:03 PM
Japan and Bangladesh have decided to advance a special partnership initiative known as “Big-B” to enhance their shared capabilities and stability among a rapidly changing global situation.
The decision was announced in a joint statement after a bilateral meeting led by Bangladesh Prime Minister Tarique Rahman and his Japanese counterpart Sanae Takaichi at the Japanese premier’s office “Kantei” in Tokyo on Tuesday.
It said that the initiative will be taken forward under the name “BIG-B for Shared Prosperity” to take the economic relations of the two countries to a new level.
Under this initiative, the two countries will work to integrate the development of power, energy, deep sea ports, industry and information and communication technology infrastructure.
Through this a major nexus will be developed for industrial value chains, develop into a trade and supply gateway and generate growth and prosperity.
This will be done through enhancing connectivity, improving resilience against risks, including natural disasters and geopolitical uncertainties; co-creating opportunities for economic growth and rulemaking through public-private partnerships, and strengthening cooperation in establishing peace and stability.
Under the initiative, the two prime ministers agreed to work together to transform the Matarbari-Moheshkhali region into a major hub for logistics, energy, and industry, centred on the Matarbari deep seaport.
The joint declaration said that the Japanese private sector could invest 1 trillion yen in Bangladesh in the next five years.
It also highlighted the possibility of creating 200,000 jobs in Bangladesh through this investment.
The declaration highlighted the commitment of the two countries to further strengthening their long-standing friendly relations, increase trade and investment, develop infrastructure, and increase cooperation in energy security.
It was also decided to advance the preparatory work for the rapid launch of the third terminal of Dhaka's Shahjalal International Airport.
The two countries will also discuss speeding up the construction of the metro rail line in Dhaka and future cooperation in the operation and management of the Matarbari deep sea port.
Memorandum of Understanding Signed
Japanese Prime Minister Takaichi emphasised improving foreign investment environment in Bangladesh, while Tarique pledged to improve regulations and transparency in activities such as taxes, customs exemptions, remittances and licensing to facilitate investment.
A memorandum of understanding was signed between the Ministry of Economy, Trade and Industry of Japan and the Economic Relations Division of the Ministry of Finance of Bangladesh to improve economic relations and the business environment.
Two separate MoUs were also signed between the relevant ministries of Japan and Bangladesh's agriculture and fisheries and livestock ministries to enhance trade and investment in the food, agriculture, fisheries and animal husbandry sectors.
The two premiers expressed their interest in sending a Japanese business delegation to Bangladesh and planning to organise an economic dialogue to further enhance the business relations between the two countries. They also agreed to enhance cooperation under the Bangladesh Special Economic Zone.
The two also welcomed the signing of the Japan-Bangladesh Economic Partnership Agreement and pledged to implement it expeditiously. The agreement aims to increase trade and investment and diversify Bangladesh's industrial sector.
The joint statement said that the agreement will help Bangladesh achieve a sustainable and risk-resilient transition from Least Developed Country (LDC) status.
Japan is also interested in advancing discussions on Bangladesh's request to join the Regional Comprehensive Economic Partnership (RCEP) agreement.
Defence, Security Cooperation
The two heads of government pledged to further strengthen bilateral security cooperation amid increasing geopolitical uncertainty in the world.
They welcomed the signing and entry into force of an agreement on the transfer of defence equipment and technology.
The joint declaration also mentioned the provision of a patrol boat under Japan's official development assistance to enhance Bangladesh's coastal security capacity.
In addition, it was said that five patrol boats would be provided under Japan's official security assistance programme.
They also pledged to explore more opportunities for cooperation under this programme in the future.
Recognising Bangladesh's significant contribution to UN peacekeeping operations, Japan has announced its intention to increase cooperation in maritime situation monitoring, coastal patrols and port security.
