Japan’s private sector plans to invest around $6.34 billion in Bangladesh over five years, potentially creating 200,000 jobs, while Dhaka seeks Tokyo’s support for a smooth LDC graduation.
Foreign Affairs State Minister Humaiun Kobir spoke to journalists at the Bangladesh Embassy in Tokyo. Photo: PMO
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Foreign Affairs State Minister Humaiun Kobir spoke to journalists at the Bangladesh Embassy in Tokyo. Photo: PMO
Prime Minister Tarique Rahman has prioritised Bangladesh’s national interests in strengthening bilateral ties with Japan and advancing development projects during his bilateral summit with Japanese Prime Minister Sanae Takaichi, said Foreign Affairs State Minister Humaiun Kobir.
“The two leaders discussed enhancing trade, investment and economic cooperation between the countries, with a particular focus on employment-generating industries and strategic economic projects,” he told journalists at the Bangladesh Embassy in Tokyo yesterday (27 October) following the summit.
Kobir said the prime minister had emphasised prioritising Japanese investment in sectors capable of creating jobs in Bangladesh.
Japan’s private sector plans to invest around $6.34 billion in Bangladesh over the next five years, potentially creating about 200,000 jobs, he said.
The two sides also discussed expediting the implementation of the Bangladesh-Japan Economic Partnership Agreement (EPA) and Japan’s support was sought for a smooth and sustainable graduation of Bangladesh from the Least Developed Country (LDC) category.
Against the backdrop of the Covid-19 pandemic, longstanding economic challenges and the recent global energy crisis, Bangladesh has sought an additional three years to prepare for LDC graduation, Kobir said, adding that Japan was urged to consider the request seriously.
He said the two countries discussed establishing a joint ministerial-level mechanism to accelerate bilateral cooperation, identify priority sectors, set specific timelines and regularly review progress. Strengthening cooperation between the private sectors of both countries was also emphasised.
Japan has shown interest in investment in Bangladesh’s energy sector, the development of technology-driven industrial cities and infrastructure projects, including elevated expressways at various locations, the state minister said.
He also referred to Japan’s development assistance of 5 billion yen, equivalent to around $34 million.
Describing the prime minister’s visit as an important opportunity to attract new investment and strengthen bilateral economic ties, Kobir said international partners were showing growing interest in investing in Bangladesh in the context of its new democratic journey.
One of the key objectives of the visit was to translate that interest into actual investment, he said.
During the visit, the prime minister’s tours of Japan’s energy infrastructure and logistics facilities provided opportunities to learn from Japanese experience for Bangladesh’s development plans, particularly in LNG terminal development and modern logistics management, Kobir added.
Replying to a question about language proficiency and employment opportunities for Bangladeshi students studying in Japan, the state minister said the two countries were discussing Japanese-language education and skilled workforce development, with a mechanism in this regard at the implementation stage.
On the Rohingya issue, he said Bangladesh planned to raise the matter prominently in various multilateral diplomatic forums next year and expected Japan to play a positive role in resolving the crisis.
Overall, the visit had been highly productive, Kobir said, expressing hope that the constructive discussions between the two leaders in a cordial atmosphere would create new opportunities for Bangladesh’s development, industrialisation and job creation.
Additional Press Secretary to the Prime Minister Atikur Rahman Rumon and Deputy Press Secretary Shahadat Shadhin were also present at the briefing.
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