Boosting Dhaka-Delhi-Tokyo ties holds promise for dev: Indian expert

Enhancing cooperation among Bangladesh, India, and Japan holds significant promise for achieving future development goals, asserts Prabir De, a professor at the New Delhi-based Research and Information System for Developing Countries (RIS).

As business and investment in these nations continue to demonstrate positive growth trajectories individually, he emphasises that forging trilateral cooperation could accelerate the pace of development across the region.

"New connectivity can be developed between these three countries using the Bay of Bengal," De said during a public lecture titled "Emerging Contour of Bangladesh-India-Japan Triangular Cooperation," organised virtually by Sanem Trade Centre.

"Bangladesh will be a $1 trillion economy by 2031. India will also go a long way. Bangladesh's ports and maritime linkages will increase in the future. As a result, trilateral cooperation can play an important role in development."

The event was attended by representatives from several research organisations in the three countries, including Professor Selim Raihan, executive director at Sanem.

Professor Prabir De mentioned that Bangladesh and India are the top countries for foreign direct investment (FDI) from Japan. Japan's investment in these two countries is continuously increasing. Additionally, in terms of official development assistance, the second-largest economy in Asia has heavily invested in both Bangladesh and India.

The island nation has substantial participation in the infrastructure development of the two South Asian neighbours. Tokyo has played a role in setting up metro rails in Delhi and Dhaka. Moreover, the country has contributed to establishing industrial corridors, highways, and industrial zones.

He mentioned that various Japanese companies have started operations in Bangladesh, and Japan's development assistance to Bangladesh is also increasing.

"Japanese companies have also made significant investments in India. Meanwhile, talks are ongoing between India and Japan regarding semiconductor activities," he continued.

He also highlighted that Japan and India can be destinations for Bangladesh's new products. Bangladesh has now created new opportunities for investors from Japan and India.

"As a result, it is time to move to a new level of development cooperation between these three countries. Now governments have to come forward," pointed out Professor Prabir De.

He mentioned that Japan's strong private sector, advanced technology, and high-value market will help Bangladesh meet the challenge of LDC graduation. Additionally, the northeastern part of India holds promise for Bangladesh. Therefore, the development alliance of these three countries can strengthen this region of Asia.

He believes that these three countries can work together to address the effects of trade, digital technology, financial cooperation, and climate change. He noted that the baseline of these three countries is very strong, with similarities in culture, climate, connectivity, and commerce.

India played a significant role in the establishment of Bangladesh, and similarly, Japan's role is also significant. Bangabandhu Sheikh Mujibur Rahman's second foreign visit was to Japan, indicating warm friendship and diplomatic relations with the country.

As a result, the alliance of Bangladesh, India, and Japan can be the strongest regional alliance in the world. Now is the time for the governments of the countries to consider this matter, as he put it.