Tokyo:Prime Minister Tarique Rahman has extended an invitation to Japanese companies to invest in crucial sectors of Bangladesh, including automotive manufacturing, energy, technology, and high-speed rail logistics. He assured potential investors of government support and promised reforms to enhance the business environment during his address at the Bangladesh-Japan Economic Forum Dialogue held at JETRO headquarters in Tokyo.
According to United News of Bangladesh, the Prime Minister emphasized the significance of elevating the long-standing relationship between Bangladesh and Japan through trade and investment, following the signing of the Economic Partnership Agreement (EPA). This agreement is Bangladesh's first of its kind with any country. The dialogue was organized by the Japan External Trade Organization (JETRO) in collaboration with the Japan-Bangladesh Committee for Commercial and Economic Co-operation (JBCCEC), with support from the Bangladesh Embassy in Japan.
JETRO President Susumu Kataoka initiated the event, and Japan's Parliamentary Vice-Minister of Economy, Trade and Industry, Shinji Wakayama, participated as a guest speaker. The event also saw the exchange of a memorandum of understanding (MoU) and announcements concerning investment and cooperation projects. Prime Minister Rahman highlighted Bangladesh's large market of over 180 million people, a young workforce, and a growing middle class, predicting it to become one of the top 10 consumer economies by 2030.
The EPA, signed between Bangladesh and Japan earlier this year, allows 7,379 Bangladeshi products duty-free access to Japan. Simultaneously, Japanese goods like steel and automotive parts will receive preferential access to Bangladesh. Japanese companies have already begun establishing factories in the Japanese Economic Zone in Araihazar, with government pledges of support.
The Prime Minister acknowledged three major concerns raised by Japanese companies reliable energy, efficient infrastructure, and predictable customs clearance and taxation. He assured that the government has addressed some issues and is working on the rest. Rahman expressed Bangladesh's ambition to become a global manufacturing hub, inviting Japanese companies to participate in the energy sector, technology park development, and space science cooperation.
In rail and logistics, Bangladesh plans to develop a high-speed rail network connecting major cities and invites Japanese investments in this initiative. Rahman also emphasized strengthening people-to-people ties and prioritizing Japanese-language education to meet employment needs in both countries.
The event also featured insights from Finance and Planning Minister Amir Khosru Mahmud Chowdhury on building an investment-led economy, and presentations from various business leaders, including Kenichiro Kawamoto of Mitsui and Co. and Reisuke Aratani of YKK Corporation, discussing business prospects in Bangladesh.