Tokyo:Prime Minister Tarique Rahman's recent four-day official visit to Japan has resulted in strengthened development and investment ties, with Japan reaffirming its commitment to Bangladesh. State Minister for Foreign Affairs Humaiun Kobir announced the development during a press conference at the Foreign Ministry.
According to Bangladesh Sangbad Sangstha, the visit highlighted Japan's dedication to continued and expanded development assistance, along with opportunities for increased private investment and human resource development in Bangladesh. The engagements were seen as a significant advancement in transforming the longstanding development cooperation between the two nations into a mutually beneficial economic and investment partnership.
One of the major outcomes was the prospect of up to one trillion yen, approximately US$6.3 billion, in Japanese private investment in Bangladesh over the next five years, potentially creating around 200,000 jobs. The proposed investment will focus on private-sector opportunities rather than government loans.
The two countries also agreed to upgrade the Bay of Bengal Industrial Growth Belt (BIG-B) initiative to "BIG-B for Shared Prosperity," aiming for integrated development of energy, deep-sea ports, industrial facilities, ICT infrastructure, and connectivity. Discussions during the visit remained focused on bilateral economic relations without involving third countries.
Japan reiterated its support for Bangladesh's major infrastructure projects, including operationalizing the Third Terminal at Hazrat Shahjalal International Airport and implementing Dhaka's Mass Rapid Transit projects. Emphasis was placed on timely completion and continued concessional financing for Japanese-funded projects.
The Prime Minister's discussions with Japanese business leaders aimed at expanding investment in Bangladesh's garment industry, renewable energy, ICT, and advanced manufacturing. Efforts will focus on technology transfer, skills development, and sustainable production.
Six cooperation agreements were signed, covering areas such as economic relations, agriculture, coastal security, climate cooperation, and information technology. Cooperation in sustainable urbanization, healthcare, and environmental protection was also reaffirmed, along with engagement in finding a sustainable solution to the Rohingya crisis.