In the midst of Bangladesh’s electoral panorama, the enduring and dynamic bilateral connections between Japan and Bangladesh come into sharp focus. With the nation deeply immersed in the democratic process, the alliance between these two countries emerges as a prominent feature, intricately woven with strands of cooperation, mutual respect, and shared aspirations.

Watanabe Masato, former Ambassador to Bangladesh, led an election observer mission from Japan, which included officials from the Ministry of Foreign Affairs and the Japanese Embassy in Bangladesh, along with an external expert. They undertook on-site monitoring activities.

Japan, considering Bangladesh as a strategic partner, expresses hope that the nation will advance its democratic development efforts. Press Secretary Kobayashi Maki also stated, “As a valued strategic partner, Japan anticipates Bangladesh’s progress in furthering its development as a democratic nation.”

A Retrospective on Japan-Bangladesh Bilateral Success

Over the years, the bilateral ties between the two nations have seen a remarkable upswing, evolving Japan into one of our most integral partners. Notably, last April marked a significant milestone as Japan elevated its relationship status with Bangladesh from a comprehensive one to a “strategic” partnership, as underscored by Japan’s Minister of Economy, Trade, and Industry. 

With several Japanese companies eyeing a shift in operations across Asia, the minister expressed confidence in Bangladesh’s potential to attract them, foreseeing a substantial influx of investment that could, in turn, lead to manifold benefits, including increased job opportunities.

In 2022, Bangladesh witnessed an unprecedented inflow of over $100 million in Japanese investments, setting a record high, accompanied by a quadrupling of Japanese companies in the country over the past decade. In pursuit of advancing bilateral relations, both nations are actively engaged in negotiations to finalize an Economic Partnership Agreement (EPA), a development poised to bring immense positive implications for all stakeholders.

Since 2008, Bangladesh’s exports to Japan have been on a consistent upward trajectory, particularly after Japan relaxed the Rules of Origin for the knitwear industry in 2011, resulting in a substantial surge in garment shipments. Notably, garment exports to Japan experienced a year-on-year increase of more than 45 percent in the fiscal year 2022-23, reaching a substantial USD $1.6 billion. 

The overall exports to Japan in 2022 exceeded USD $1.7 billion, reflecting a year-on-year surge of over 40 percent, with the clothing industry contributing over 80 percent to the total exports. The influx of Japanese brands and corporations, especially in the clothing sector, further signals a burgeoning economic partnership.

The Bangladesh-Japan Economic Partnership heralds a new era of economic development and collaboration among Asian nations. Prime Minister Sheikh Hasina’s visit to Tokyo in April 2023 laid the foundation for robust economic relations, marked by the signing of three memorandums of Understanding (MoUs). Anticipated by the end of 2025 or early 2026, the signing of the EPA is expected to solidify the commitment to heightened economic cooperation.

Looking beyond 2026, Nishimura Yasutoshi, Japan’s Minister of Economy, Trade, and Industry, has pledged unwavering support to Bangladesh’s aspiration to achieve high-income status by 2041. During discussions with State Minister for Foreign Affairs Shahriar Alam, Japan is actively exploring the requisite support and favorable treatment that Bangladesh may require following its ascent to the middle-income nation group.