Stressing that peace and harmony among littoral states are crucial to unlocking the Bay of Bengal's potential, Foreign Affairs Adviser Md Touhid Hossain emphasised on Sunday that Bangladesh must address pressing challenges and seize emerging opportunities.

"By fostering strategic partnerships, embracing a unified vision and adopting innovative approaches, we can unlock the vast potential of this region, benefiting all stakeholders and creating a legacy of prosperity for future generations," Adviser Hossain said while speaking at a seminar in the capital.

He laid emphasis on their collective task to align diverse interests, ensuring that the Bay of Bengal becomes a region of collaboration rather than conflict; a hub of connectivity rather than contention; and a model for sustainable and inclusive development.

Supported by the Embassy of Japan, Bangladesh Institute of International and Strategic Studies (BIISS), in collaboration with the Institute of Developing Economies (IDE-JETRO) hosted the international seminar on "Reconnecting the Bay of Bengal Region: Exploring the Convergence of Interests" at the BIISS auditorium.

Japanese Ambassador to Bangladesh Iwama Kiminori spoke at the seminar as the special guest. The working sessions were chaired by Tarik A Karim, Chairperson of the Bay of Bengal Institute, Cosmos Foundation; and Dr Fahmida Khatun, Executive Director of Centre for Policy Dialogue (CPD).

Other speakers included Ambassador AFM Gousal Azam Sarker, Chairman of BIISS, and Major General Iftekhar Anis, Director General of BIISS.

With its strategic location and growing industrial base, the Adviser said Bangladesh is uniquely poised to become a regional transit hub and a key player in the global value chain.  In order to unlock these possibilities, Bangladesh must address pressing challenges and seize emerging opportunities, he said.

As Bangladesh approaches its graduation from the Least Developed Country (LDC) category in 2026, Adviser Hossain said, it stands at a critical juncture, facing both significant opportunities and complex challenges.

The impending loss of preferential trade benefits and concessional financing necessitates a shift towards more competitive and innovative economic strategies.

"To address these challenges effectively, Bangladesh must prioritise diversifying its trade portfolio, elevating the quality and value of its exports, and investing in advanced technologies to drive productivity and economic growth," Hossain said.

Partnerships with regional and extra-regional stakeholders, particularly Japan, can provide the technological and financial support needed for Bangladesh to overcome these hardships, he said.

Japan’s expertise in areas such as renewable energy, digital trade, and maritime logistics can play a transformative role in this context, said the Adviser, adding that the Bay of Bengal is not only an economic resource but also an ecological treasure.

Therefore, he said, preserving its marine biodiversity and addressing some pressing challenges such as climate change, illegal fishing, and maritime security are essential for the long-term prosperity in this region.

"We are aware of the civil war situation currently prevailing in Myanmar, and the 1.2 million Rohingyas who were forcibly displaced from the Rakhine state under extreme atrocities, and are sheltered in Bangladesh for the last 7 plus years," Hossain said.

There has been no progress in their repatriation and the situation is further complicated by a non-state actor, the Arakan Army taking control of the entire border with Bangladesh, he said.

The Adviser is just back from an informal consultation in Bangkok at the invitation of the Thai Foreign Minister, where the Foreign Ministers of Myanmar and Laos, Deputy Foreign Minister of China and the Indian Foreign Secretary were present.

"I told them in no uncertain terms that peace and order will not be possible in Myanmar, and consequently in the region, unless the Rohingyas lodged in Myanmar can go back to their homes with security and rights," Hossain said.

It is incumbent on Myanmar and the regional powers to create a congenial atmosphere for their return, he said.

The Bay of Bengal—historically a nexus of connection, commerce, and culture—continues to hold immense strategic importance as a maritime crossroads linking South and Southeast Asia to the global economy.

With its vast natural resources, crucial shipping routes, and potential for economic integration, the Bay has emerged as a focal point of geopolitical and economic activity, said Adviser Hossain.

"The Bay of Bengal is now witnessing heightened attention from regional and global powers, with nations and institutions recognising its critical role as a driver of growth and stability," he said.

While this reflects its increasing significance, it also raises the stakes for cooperation and competition, Hossain said.

The transition from labour-intensive to technology-driven industries and enhanced regional and global supply chain integration is critical in this respect, Hossain said.

Initiatives like the “Bay of Bengal Industrial Value Chain,” championed by Japan, provide a blueprint for achieving this transformation by leveraging investment, technology, and labour, he said.

Japan has been a steadfast partner in Bangladesh's journey for more than five decades.

Through its Official Development Assistance (ODA) and investments in key sectors such as infrastructure, energy, and education, Japan has demonstrated its transformative potential of cooperation, Hossain said.

"These initiatives not only strengthen Bangladesh’s economic resilience but also pave the way for a more interconnected and prosperous Bay of Bengal region," he said.

Hossain said the seminar will play a crucial role in deepening our understanding of the shared perspectives of Japan and Bangladesh regarding the convergence of interests in the Bay of Bengal region.

He thanked the Japanese Ambassador for spending his last day with this important seminar. "We are very grateful to you, Ambassador."

The Ambassador left Dhaka for Tokyo by a Biman Bangladesh flight on Sunday night.

The seminar explored ideas for understanding Japan and Bangladesh's views about the convergence of interests in the Bay of Bengal region.

In order to explore the prospects and existing challenges in the region, three presentations were made in the seminar.

Umezaki So, Director of Economic Integration Studies Group, Development Studies Center, IDE-JETRO made a presentation on "Exploring Convergence of Interests in the Bay of Bengal Leveraging Trade, Investment and Technology for Economic Growth," Dr Selim Raihan, Prof, Department of Economics, University of Dhaka and Executive Director, South Asian Network on Economic Modeling (SANEM) delivered a presentation on "Bangladesh's LDC Graduation Journey: Exploring Prospects for Regional Collaboration in the Bay of Bengal"; and Kimura Fukunari, President, IDE-JETRO, Prof Emeritus and Senior Professor at Keio University presented on "Connectivity and Economic Growth: Lessons from ASEAN Experiences to South Asia".

Panelists of the seminar were Dr M Masrur Reaz, Chairman and CEO, Policy Exchange Bangladesh; Prof Tsubota Kenmei, Department of Regional Development Studies, Faculty of Global and Regional Studies, Toyo University, Shams Mahmud, President, Bangladesh-Thai Chamber of Commerce and Industry, Yamada Eiji, Senior Representative, ICA Bangladesh Office & Senior Research Fellow, JICA Ogata Sadako Research Institute for Pence and Development; and Tareq Rafi Bhuiyan (Jun), President Japan-Bangladesh Chamber of Commerce & Industry (JBCCI).