On March 30th, an international trade analyst highlighted the potential for increased trade, business, and economic growth through triangular cooperation among Bangladesh, India, and Japan.
The analyst emphasized the similarities between the three nations’ climate, culture, and commerce.
The analyst mentioned that a Comprehensive Economic Partnership Agreement (CEPA) between Bangladesh and India, similar to the existing one between India and Japan since 2011, could open up significant opportunities.
Speaking at a webinar titled ‘Trade winds: Emerging contour of Bangladesh-India-Japan triangular cooperation,’ the analyst underscored Bangladesh’s need to connect with neighboring countries for sustainability and leverage the synergies of tripartite cooperation.
He emphasized the commonalities in rules of law and government among Bangladesh, India, and Japan, noting ongoing discussions about such agreements.
The analyst pointed out the three countries’ collaborative responses to global challenges like the COVID-19 pandemic and geopolitical conflicts.
The analyst also noted Bangladesh’s attractiveness as a sourcing destination for international clothing brands and emphasized the untapped potential for increased exports to Japan and India.
He emphasized the strong cultural, economic, and strategic ties among the three nations and their role in regional initiatives like BBIN and BIMSTEC.
The analyst suggested collaborative solutions to ensure enhanced trade and business among the three countries, including leveraging maritime connectivity and improving border infrastructure.