Japanese Prime Minister Kishida Fumio on Monday said Bangladesh will soon graduate from being classified as a least developed country, and they have already launched the Joint Study Group on the possibility of an Economic Partnership Agreement with Bangladesh.

He said this also reflects the important Free and Open Indo-Pacific (FOIP) principle of "excluding no one."

The Japanese Prime Minister was delivering a policy speech at the Indian Council of World Affairs (ICWA).

He described Japan's plan to develop a "Free and Open Indo-Pacific."

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"To achieve this, India is an indispensable partner. I believe that Japan and India are in an extremely unique position in the current international relations and, furthermore, in the history of the world," he said.

India is the largest democracy in the world, said the Japanese PM, adding that they have always viewed with great respect the way such a huge and diverse country as India has developed democracy.

"Japan, for its part, was the first country in Asia to achieve modernization and embrace democracy," he said.

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"It is fair to say that both countries are naturally receptive to and fully committed to the idea of electing governments through general elections and deciding policies through public debate," said Kishida Fumio.

He said Japan and India have a great responsibility for maintaining and strengthening "a free and open international order based on the rule of law."　

"This year, as Japan holds the G7 presidency and India holds the G20 presidency, my hope is that, through working together with ASEAN and other many countries, we will bring about peace and prosperity to the international community, which faces a time of challenges," he said.

The vision for achieving this is FOIP, a "Free and Open Indo-Pacific" based on the rule of law.

"I believe that this region will be a "place where freedom and the rule of law are valued, free from force or coercion."

The PM said Japan will spare no efforts to cooperate with India for the success of the G20.

"I am looking forward to welcoming Prime Minister Modi to Hiroshima in May and visiting India again in September," he said.

Prime Minister of Japan Kishida Fumio is paying an official visit to India on 20-21 March.