Triangular cooperation among Bangladesh, India and Japan to enhance trade

According to an international trade analyst, triangular cooperation between Bangladesh, India, and Japan could boost trade, commerce, and economic growth as the three countries have similar climates, cultures, and commercial traditions.

Figure: Triangular cooperation among Bangladesh, India and Japan to enhance trade.

Prabir De, a professor at the Research and Information System for Developing Countries (RIS) in New Delhi said, a free economic zone will develop if Bangladesh and India join a CEPA, which will also enhance commerce between the three countries.

Over the time, the three countries responded to the severe fallouts of COVID-19 and the war between Russia and Ukraine together, and Bangladesh had developed a lot of infrastructure such as the Matarbari deep seaport alongside railways, expressways and bridges but could not sustain them alone.

Also, Japan was involved in development projects in northeastern India, so there is now greater opportunities for tripartite partnership.

Notably, Bangladesh is an exporting nation and there are a lot of opportunities to export more goods to Japan and India if there is tripartite cooperation. As per the expert, Bangladesh has emerged as a desirable location for global apparel retailers like Zara, H&M, and Uniqlo to source their goods.

Strong cultural, economic, and strategic links exist between Bangladesh, India, and Japan; Japan and India are also important development partners for Bangladesh.

According to De, BBIN and BIMSTEC are two regional projects that have their center in the India-Bangladesh sub-region.

Bangladesh's infrastructure is being substantially invested in by Japan and India, and free trade agreements are being considered.