Takaichi announces upgrading the BIG-B initiative as a new strategic cooperation initiative

Rahman is leading the development of the Bay of Bengal region. 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 Industrial Growth Belt (BIG-B) initiative, which forms the foundation of cooperation between our two countries, and advance it as a new strategic cooperation initiative with Prime Minister Rahman, called “BIG-B for Shared Prosperity.” Based on four new pillars: - Strengthening connectivity; - Preparedness for natural disasters and geopolitical risks; - Public-private partnership for co-creation of economic growth opportunities and rule-making; and - Cooperation for peace and stability; we aim to work together to achieve shared prosperity. Furthermore, private investment by Japanese companies amounting to approximately one trillion yen is expected over the next five years. Bangladesh's tremendous potential as a bridge between Southeast Asia and South Asia is also extremely important for Japan's economy. Working together, we will further promote our economic relations by improving the investment environment, including through the early entry into force of the Economic Partnership Agreement (EPA), and by dispatching a business mission in the near future. In the area of security, we have also newly decided to provide a patrol vessel through Official Development Assistance (ODA) to strengthen Bangladesh's maritime security capabilities. We will continue cooperation under Official Security Assistance (OSA) and defense cooperation, while also working toward peace and stability in the region. Under the future-oriented Strategic Partnership between Japan and Bangladesh, let us become stronger and more prosperous together. Together with Prime Minister Rahman, I will usher in “a new era of Japan-Bangladesh relations for a future of shared prosperity.” That is all from me. Thank you very much.