Japan-Bangladesh geo-economic cooperation: the lens of Free and Open Indo-Pacific (FOIP) for peace, stability and prosperity

Abstract

The ongoing transfer of economic power from the West to the East created a shift in economic dominance and the global power balance, allowing emerging nations to enhance their positions. Several countries favor a Free and Open Indo-Pacific initiative to preserve the status quo. Because it maintains an essential seaport in the Indian Ocean, Bangladesh is recognized as a maritime nation. Bangladesh’s geographic advantage allows it to serve as a node and hub in regional and inter-regional trade and investment. This potential stems from the global movement of economic power toward the Indo-Pacific Region. This study assesses whether Japan’s FOIP can provide peace and stability to Bangladesh while grasping geopolitical sustainability. Furthermore, this paper argues FOIP’s regional economic cooperation is managed effectively, and Japanese investment might benefit Bangladesh’s economy for sustainable development. This qualitative study uses primary and secondary data to evaluate the feasibility of Japanese geopolitical projects in Bangladesh for peace, stability, and prosperity. This study provides a new paradigm in analyzing the strategic geopolitical implications of FOIP in the Bay of Bengal area, highlighting the repercussions of geopolitical transformation into a strategic focal point. This study depicts the equiangular developmental diplomacy’s balancing instrument and standards for joint stability and growth in the Bay of Bengal area.