Bangladesh News Bangladesh - Japan Relation

[Isa Khan]

Air Chief is visiting Japan to meet JASDF chif and ATLA commissioner. He will visit Mitsubishi Electric and Kawasaki Heavy Industries. So much effort just to sell a radar.

https://www.ispr.gov.bd/বাংলাদেশ-বিমান-বাহিনী-প্-46/

 

[Isa Khan]

Bangladesh and Japan agreed to further intensify their existing excellent ties and work towards building a strategic relationship. Foreign Secretary Ambassador Masud Bin Momen had an extensive meeting with Japanese Senior Deputy Minister for Foreign Affairs Mr. Shigeo Yamada, today in Tokyo, Japan, as part of regular Foreign Office Consultation (FOC) to comprehensively discuss the bilateral relations, regional and global issues. Ambassador Shahabuddin Ahmed and other senior officials of the Ministry of Foreign Affairs and Bangladesh Embassy in Tokyo also attended the meeting.

Both sides recalled Father of the Nation Bangabandhu Sheikh Mujibur Rahman’s historic visit to Japan in 1973 which cemented the bilateral relations.

Japan highly appreciated the well planned and structured approach to development led by Hon'ble Prime Minister Sheikh Hasina through her visions 2021 and 2041. As part of building stronger bonds, Japan suggested to partner with Bangladesh in further developing the southern Chattogram area centering on the Matarbari Infrastructure Development Initiative (MIDI) project in the context of connectivity. Both sides agreed that these projects being built under Japan’s Big-B initiative have potentials to benefit not only Bangladesh but also the entire region.

Both sides discussed issues of bilateral relations in the areas of trade, investment, agriculture, especially ICT and high-tech industries, blue economy, health, human resource development, capacity development in maritime security, disaster management and defense cooperation.

By emphasizing to promote connectivity in the coming days, Foreign Secretary appreciated the Japanese involvement in Bangladesh’s development projects including the Matharbari, Metro Rail and the Third Terminal of Hazrat Shahjalal International Airport etc. Japanese Senior Deputy Minister appreciated Bangladesh’s growth in spite of the pandemic and global economic downturn. Foreign Secretary expressed his gratitude for COVID-related assistance extended by Japan including vaccine provision and direct budgetary support for the next couple of years.

Japanese Senior Deputy Minister assured that Japan will continue to support in all development projects of Bangladesh related to connectivity. Both sides expressed satisfaction at the inauguration of the first phase of Bangladesh Special Economic Zone at Araihazar and Metro Rail. Bangladesh hopes that this economic zone will attract more Japanese investments since Bangladesh attaches high importance to the bilateral relations with Japan and will facilitate Japanese investors in this regard.

Foreign Secretary also appraised Biman’s plan to resume its flights to Tokyo in the running year. Japanese Senior Deputy Minister Mr. Yamada welcomed the idea and stated that the proposed air-link would help greater people to people contact and promote businesses.

Foreign Secretary stressed the urgency for early repatriation of the Rohingyas to their ancestral homes at the Rakhaine state of Myanmar. The Japanese side stated that they would continue their assistance to Bangladesh in this regard.

Foreign Secretary invited Japanese Senior Deputy Minister Mr. Yamada to visit Bangladesh for the next FOC in 2024.

Ministry of Foreign Affairs, Bangladesh

Bangladesh and Japan agreed to further intensify their existing excellent ties and work towards building a strategic relationship. Foreign Secretary Ambassador Masud Bin Momen had an extensive...

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[Isa Khan]

On March 5, 2023, Ambassador IWAMA Kiminori paid a courtesy call on Admiral M Shaheen Iqbal, NBP, NUP, ndc, afwc, psc, Chief of Naval Staff, Bangladesh Navy.

Both sides cordially exchanged views on the bilateral cooperation in various fields, including strengthening defense relations between the two countries.

 

[Isa Khan]

Japan on Monday unveiled its new vision for a Free and Open Indo-Pacific (FOIP) which includes integrated development of Northeast India and Bangladesh as part of a broader Bay of Bengal community.

Calling India an “indispensable partner”, Japanese Prime Minister Fumio Kishida outlined his new Indo-Pacific strategy during a policy speech at the Indian Council of World Affairs (ICWA), immediately after holding a Japan-India Summit Meeting with Prime Minister Narendra Modi at the Hyderabad House in New Delhi.

Kishida listed three important regions – Southeast Asia, South Asia, and the Pacific Islands – where multi-layered connectivity could overcome vulnerabilities and boost economic growth.

“The Northeast India, which is surrounded by land, still has unexploited economic potential. Viewing Bangladesh and other areas to the south as a single economic zone, we will promote the Bay of Bengal-Northeast India industrial value chain concept in cooperation with India and Bangladesh to foster the growth of the entire region,” said the Japanese PM.

Briefing a small media group, Noriyuki Shikata, Cabinet Secretary for Public Affairs said that right now Northeast India and Bangladesh were on Tokyo’s radar.

Myanmar will reappear in the frame once the political situation in Naypyidaw eases.

During his address, PM Kishida stressed that Japan has already launched a Joint Study Group on the possibility of an Economic Partnership Agreement with Bangladesh

Shikata pointed out that landlocked Bhutan could also be included in the broader Bay of Bengal initiative, though the focus right now was on the Northeast India-Bangladesh connect.

Prime Minister Kishida’s vision especially focused on emerging economies and developing countries in the Indo-Pacific region, including the far-flung island territories, vulnerable to climate change and natural disasters in the Pacific.

To fulfill Kishida’s vision of transparent and inclusive development of the region, Tokyo will mobilise USD 75 billion USD in public and private funds in the Indo-Pacific region by 2030.

With China’s debt-trap diplomacy as the subtext, the Japanese will focus on fair development finance which will focus on building quality infrastructure development, including undersea cables to far-flung island territories.

Kishida cited the critical situation in Sri Lanka and insisted on rules to prevent “opaque and unfair development finance” which are necessary for nations to grow autonomously and sustainably. “It is essential that Sri Lanka’s debt restructuring advances in a fair and transparent manner,” the Japanese premier observed.

He also stressed that Tokyo will closely collaborate with India in the South Asian region.

Analysts point out that Japan appears to be exploring deeper cooperation with India in South Asia as a major step before a broader engagement with New Delhi can unfurl in other geographies including the Middle East and Africa.

“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,” said the Japanese PM in his address.

Kishida chose India to make the significant announcement as it was here that Japan’s longest-serving Prime Minister, the late Shinzo Abe delivered his famous ‘The Confluence of Two Seas’ speech in the Indian Parliament in August 2007 and came up with the concept of the ‘Indo-Pacific’ for the first time.

“I cannot help but feel a sense of destiny that I am here in India to speak about my vision for a Free and Open Indo-Pacific… Here in this country, former Prime Minister Abe delivered a speech that linked the Pacific and the Indian Oceans for the first time. India is the place where FOIP came into being,” he recalled.

Promising that Japan will “spare no efforts” to cooperate with India for the success of the G20, Kishida said that both countries have a great responsibility for maintaining and strengthening “a free and open international order based on the rule of law”.

Asked whether the Chinese plan to resolve the Ukraine conflict could work, a Japanese official who did not wish to be quoted said that the United States has already rejected Beijing’s plan. He added that as the chair of the G-20 this year, India was entitled to play a peacemaker’s role to end the Ukraine war, building on PM Modi’s earlier statement during a conversation with Russian President Vladimir Putin that “ours is not an era of war”.

In view of the emphasis on the Global South to spread the culture of transparency, human rights, democracy, and problem-solving through dialogue, Japan will be inviting Cook island, Comoros apart from Vietnam, Brazil, Australia, South Korea, and Indonesia, apart from India for the G-7 that will be hosted in Hiroshima in May this year, Shikata said.

Kishida’s new Indo-Pacific vision includes integrated development of northeast India, Bangladesh and the Bay of Bengal

Japan's broader engagement with New Delhi can unfurl in other geographies including the Middle East and Africa

www.indianarrative.com

 

[Isa Khan]

The construction of a new Meteorological Rader in Dhaka under JICA cooperation has been progressed for providing more accurate and on-time weather monitoring and forecasting.

 

[Isa Khan]

The government on Wednesday signed an agreement with the Japanese government to get loan assistance for the Matarbari Port construction, improvement of Chattogram-Cox's Bazar Highway, and installing dual-gauge double-line rail tracks on the Joydebpur-Ishwardi route.

Sharifa Khan, secretary, Economic Relations Division, Ministry of Finance signed the agreement for nearly $1.27 billion loan on behalf of the Bangladesh government, while Japanese Ambassador Iwama Kiminori and Jica Bangladesh Chief Representative Ichiguchi Tomohide represented Japan.

The interest rate for the loan scheme will be 1.20% for construction and 0.01% for consultancy services. The front end fee (at a time) would be 0.2%, and repayment period 30 years including a 10-year grace period.

Japan, the country's long-time development partner, has already contributed towards the Matarbari Port and Chattogram-Cox's Bazar highway projects through the first tranche of loans worth $319 million and $14.68 million respectively.

Matarbari Port in Chattogram is set to be the country's first deep-sea port capable of hosting large vessels. The improvement work on Chattogram-Cox's Bazar highway involves building flyover and outer roads at major congested sections of the route.

The third project would transform the existing 162km railway between Gazipur's Joydebpur and Pabna's Ishwardi into dual-gauge, double-line tracks to enhance connectivity.

Japan to disburse $1.27b for Matarbari port, other projects

Loans worth $1.27 billion to be disbursed

www.tbsnews.net

 

[Isa Khan]

In 2008, the Japanese government announced the "China Plus One" policy, focusing on relocating its sunset industries from China to other countries.

The aim was to mainly reduce the over-dependence on China as the cost of production has gone up significantly for a shortage of skilled workforce there. Moreover, Japan wanted to diversify from its single-sourcing destination apprehending disruptions.

The shift was necessary as 83 per cent of all Japanese foreign investments was centred on China, with most of it starting to be made since the early 1980s.

Aided by government incentives, 33,050 Japanese companies with more than $57 billion in investments started relocating to different Asian countries and elsewhere, according to the Japan External Trade Organisation (Jetro), which works to promote mutual trade and investment between the country and the rest of the world.

The recipient Asian countries were mainly Vietnam, Cambodia, Myanmar and Thailand. The draws were their development strategies around foreign direct investment and integration in global value chains alongside considerable strides in the area of inclusive and sustainable development.

Some 15 years on, Bangladesh is yet to take advantage of the Japanese policy.

"No Japanese company shifted manufacturing plants to Bangladesh from China under the China plus one strategy," said Yuji Ando, chief country representative of the Jetro.

However, Japanese companies have set up operations in Bangladesh on their own. Their numbers rose from 245 in 2015 to 338 at present.

Though their investment now stands at more than $380 million, it is just 0.1 per cent of what Japanese companies have invested in Asia, according to the Jetro.

Hope lies in the fact that the government has established a dedicated Japanese Economic Zone at Araihazar in Narayanganj. The zone, owned jointly by the Bangladesh Economic Zones Authority, the Japan International Cooperation Agency, and Sumitomo Corporation, opened last year.

According to businesses, officials and economists, the Japanese sunset industries are not relocating from China to Bangladesh mainly because of the investment climate not being up to the mark yet for poor reforms and the delays in business processes for red tape.

Ando said infrastructure, port facilities, logistic support and efficiency of service providers were not of the standard required by Japanese investors.

He hopes all bottlenecks standing in the way of attracting foreign investments will be removed within the next five to 10 years.

According to him, Japanese investors want to ensure quality investments, so they first and foremost take into consideration policies, incentives, investment environment and cooperation from service providers, all of which are important in running a business.

Lauding the government's initiatives, Ando said the time has come for Bangladesh to be serious in creating a welcoming atmosphere for FDI right from its main international airport.

On addressing red tape, the Jetro official said the government could think about ways to empower institutions to promote transparency and accountability in governance and business.

"No investor has relocated from China to Bangladesh since the outbreak of the coronavirus pandemic," confirmed Tareq Rafi Bhuiyan Jun, a former secretary general of the Japan-Bangladesh Chamber of Commerce and Industry.

"There are Japanese companies interested in investing in the infrastructure sector of Bangladesh and the government is taking very positive steps to attract foreign investment and improve necessary infrastructure," he said.

"But it will take time to reach the standards of countries like Vietnam, Indonesia and Thailand."

Red-tape still prevails among various service providers which impedes efforts to attract FDI, said Kazi Aminul Islam, a former executive chairman of the Bangladesh Investment Development Authority (Bida).

He identified skills gaps in all fields and weaknesses in the logistics sector for the lack of adequate interest in making investments in Bangladesh.

"These should be addressed and policies updated as per need to improve on the ease of doing business."

Abul Kasem Khan, a former chairperson of the Business Initiative Leading Development, a think-tank, suggested improving the ease of doing business continuously to reduce hassles and the cost of doing business to attract FDI.

Though Bangladesh has made improvements in the ease of doing business over the past decade, it is still lagging behind other countries which are improving continuously, he said.

Khan stressed the need for adopting effective strategies with timeframes to remove all hassles to fulfil the expectations over FDI.

"Now the macroeconomic situation is unstable, which investors take into consideration while making investments. Investors are following a wait-and-see strategy," said M Masrur Reaz, chairman of the Policy Exchange of Bangladesh.

"We are yet to reach a stage where infrastructure and necessary policy support resemble those of competing countries."

"We have just started to improve the business climate whereas competing countries had started off much earlier and have already prepared themselves as investment destinations."

Lokman Hossain Miah, executive chairman of the Bida, said they were working with different organisations to bring improvements alongside necessary reforms to attract FDI.

He acknowledged that state-run service entities need a lot of orientation on proper processes and should change as per the demand of investors in order to create a business-friendly environment so that investors see Bangladesh as the top choice for investments.

However, investors always think of ways to protect their capital and for this reason, they are yet to flock to Bangladesh, he said.

"I think the situation will improve day by day and this will help attract FDI, not only from Japan but also from around the world."

Although no Japanese factory has yet shifted to Bangladesh from China under the policy, Miah believes investors would come once the global economic situation improves.

"For this reason, the investment environment should be improved further," he noted.

Bangladesh yet to utilise Japan’s China Plus One policy

In 2008, the Japanese government announced the “China Plus One” policy, focusing on relocating its sunset industries from China to other countries.

www.thedailystar.net

 

[Isa Khan]

【Press Release】

Port Visit by JS URAGA and JS AWAJI of the Japan Maritime Self-Defense Force (JMSDF) to Chattogram
Two vessels, JS URAGA (Mine Sweeper Tender) and JS AWAJI (Mine Sweeper Ocean) of the Japan Maritime Self-Defense Force (JMSDF), arrived at Chattogram Port on 9 April 2023 for a goodwill port visit. They will stay in Chattogram till 11 April 2023.

Receiving Ceremony was held on the same day at the port jetty. Captain NAKAI Eiichi, Commander, Minesweeper Division One, and his officers were received by Captain Mohammed Faizul Hoque, (C), psc, Chief Staff Officer to Commander, Chattogram Naval Area (COMCHIT) and greeted by H.E. Mr. IWAMA Kiminori, Ambassador of Japan to Bangladesh.

During this port visit, the Bangladesh Navy will organize exchange programs such as visits on board. Captain NAKAI will make courtesy calls on Rear Admiral Abdullah Al Mamun Chowdhury, BSP, ndc, psc, COMCHIT, Rear Admiral S M Moniruzzaman, OSP, ndc, ncc, psc, Commander, Bangladesh Navy Fleet (COMBAN) and Mr. Md. Rezaul Karim Chowdhury, Honorable Mayor, Chattogram City Corporation during their stay in Chittagong. Moreover, JS URAGA and JS AWAJI will conduct a goodwill exercise with the Bangladesh Navy in the surrounding sea on 11th.

JS URAGA and JS AWAJI departed from Japan on 19 January 2023 for IMED23 (Indo-Pacific and Middle East Deployment 23). During the dispatch, they make port calls in Bahrain, Bangladesh, Brunei, Cambodia, India, Maldives, Philippines, Singapore and Vietnam, returning to Japan on 23 May 2023.

The JMSDF has made port visits to Chattogram three times before, in 2012, in 2019 and in 2022. This forth visit marks the start of the new voyage towards the next 50 years of the bilateral relations between Japan and Bangladesh, which celebrated the 50th anniversary of establishment of the diplomatic relations of the two countries last year. It is expected that this port visit will not only strengthen the bilateral relations between Japan and Bangladesh but also contribute to realize a “Free and Open Indo-Pacific (FOIP)”, which is a vision to secure peace, stability and prosperity in the region.

Embassy of Japan in Bangladesh

【Press Release】 Port Visit by JS URAGA and JS AWAJI of the Japan Maritime Self-Defense Force (JMSDF) to Chattogram Two vessels, JS URAGA (Mine Sweeper Tender) and JS AWAJI (Mine Sweeper Ocean) of...

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[Isa Khan]

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and Japan Chamber of Commerce and Industry (JCCI) signed a Memorandum of Understanding (MoU) today to further strengthen bilateral trade and economic relations.

FBCCI President Md Jashim Uddin and JCCI Chairman Mr. Ken Kobayashi signed the MoU on behalf of their organisations at The Westin Tokyo, Japan on Thursday (27 April), reads a press release.

Under the MoU, the parties will cooperate with each other to develop more productive contacts between the businesses of the two countries. Exchange knowledge and information related to bilateral trade and economic development.

They will also cooperate to identify the common obstacles to trade and investment in both countries and strive to eliminate challenges.

The MoU was signed at the inauguration of the summit on Trade and Investment Opportunities between Bangladesh and Japan held at The Westin Tokyo, Japan. Prime Minister Sheikh Hasina was the chief guest at the inauguration.

Foreign Minister Dr AK Abdul Momen, State Minister of ICT Division Zunaid Ahmed Palak, Private Industry and Investment Adviser to the prime minister Salman F Rahman, FBCCI former president Md Shafiul Islam (Mohiuddin) MP, Vice Presidents M A Momen, Aminul Haque Shamim, Md Amin Helaly, Salahuddin Alamgir, Md Habib Ullah Dawn, Directors, Executive Chairman of BIDA Lokman Hossain Miah, Executive Chairman of BEZA Shaikh Yusuf Harun, ambassadors of the two countries, high officials of the governments, business leaders were present at the summit.

FBCCI President Md Jashim Uddin said, "Japan has been a consistent partner in Bangladesh's development journey. This year marks 51 years of Japan-Bangladesh relations. As we celebrate this milestone anniversary, we must reflect on the progress we have made together."

Emphasising the market prospects of both countries, the FBCCI president said, "As we navigate the ever-changing global economic landscape, our two countries must explore new opportunities and deepen our bilateral relations and explore potential sectors."

"We hope the ongoing discussions to ease and support the businesses from both sides through the gateway of RCEP (Regional Comprehensive Economic Partnership) by 2026 will serve to further strengthen our ties, he added.

FBCCI and JCCI sign MoU to further strengthen bilateral trade

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and Japan Chamber of Commerce and Industry (JCCI) signed a Memorandum of Understanding (MoU) today to further strengthen bilateral trade and economic relations. FBCCI President Md Jashim Uddin and JCCI Chairman Mr. Ken...

www.tbsnews.net

 

[Isa Khan]

https://twitter.com/i/web/status/1648590367019925504

 

[Isa Khan]

On April 26, commencing at 6:40 p.m. for approximately 45 minutes, Mr. KISHIDA Fumio, Prime Minister of Japan, held a Summit Meeting with H.E. Sheikh Hasina, Prime Minister of the People’s Republic of Bangladesh, during her official visit to Japan, followed by an exchange of notes ceremony with the presence of the two leaders, and a joint press conference. The two leaders then had a working dinner from 8:00 p.m. for approximately 60 minutes. The overview of series of events is as follows.

The two leaders also issued a Joint Statement on Strategic Partnership between Japan and Bangladesh.

1. Introduction​

Prime Minister Kishida welcomed Prime Minister Hasina’s visit to Japan and expressed his pleasure at elevating the relations with Bangladesh, which is at a strategic juncture, to a “Strategic Partnership” as the two countries marked the 50th anniversary of the establishment of diplomatic ties last year. Prime Minister Kishida also expressed his desire to further deepen the bilateral relations and to further cooperate with Prime Minister Hasina toward the realization of a “Free and Open Indo-Pacific Partnership (FOIP).”

In response, Prime Minister Hasina expressed her pleasure at being able to visit Japan this year, which marks the beginning of another 50 years of bilateral relations. Prime Minister Hasina also noted that Japan and Bangladesh have built friendly relations over a long period of time, and expressed her desire to further strengthen relations with Japan by elevating the bilateral relations from a “Comprehensive Partnership" to a "Strategic Partnership.”

2. Bilateral relations​

• （1）Free and Open Indo-Pacific (FOIP)
  Prime Minister Kishida explained that he announced the New Plan for a FOIP in March this year, and that the “Industrial Value Chain” concept, announced at that time, aims to improve the connectivity of the entire Bay of Bengal region. Prime Minister Kishida expressed his desire to create synergies by organically linking cooperation under the “Bay of Bengal Industrial Growth Belt (BIG-B)” initiative with the development of the North Eastern Region of India. Prime Minister Kishida also explained the National Security Strategy and other documents, and Prime Minister Hasina explained that while welcoming Japan’s commitment to a free, open, and rule-based international order, Bangladesh also places importance on a free, open, and inclusive Indo-Pacific including the announcement of its own Indo-Pacific Outlook.
• （2）Security
  The two leaders welcomed the commencement of negotiations on the Agreement concerning the Transfer of Defense Equipment and Technology, while confirming that port calls, unit-to-unit exchanges, and high-level exchanges are increasingly becoming active. The two leaders agreed to continue to promote security cooperation, including through the use of the “Official Security Assistance (OSA).”
• （3）Economy and Economic Cooperation
  Prime Minister Kishida congratulated Bangladesh on its graduation from the status of a Least Developed Country (LDC) in 2026, and stated that Japan will continue to support Bangladesh’s development. He also stated that Japan will consider providing financial assistance (yen loans [note]) to Bangladesh to support its economy, which has been affected by Russia’s aggression against Ukraine and other factors. In addition, Prime Minister Kishida requested that Prime Minister Hasina make efforts to improve the investment environment and advance industry so that Bangladesh can attract further investment. Prime Minister Hasina expressed her gratitude for Japan’s support over a long period of time and expressed hope for further expansion of Japanese companies into Bangladesh. The two leaders welcomed the progress of the Joint Study Group on the possibility of a Japan-Bangladesh Economic Partnership Agreement (EPA), the first meeting of which was held this month, and agreed to strengthen bilateral economic relations.
  
  (Note) Yen loans: Cooperation through providing developing countries with necessary funds under flexible conditions (low interest rates and long repayment periods). As the funds are subject to repayment to Japan, effective utilization and self-sustaining development by recipient developing countries can be expected.
• （4）People-to-people and cultural exchanges
  The two leaders welcomed many cultural exchange programs that took place during the year of the 50th anniversary of the establishment of diplomatic relations between Bangladesh and Japan last year.
  They also welcomed the progress of new initiatives, such as the first friendship city affiliation between the two countries, realized between Naruto City in Tokushima Prefecture and Narayanganj City; the resumption of direct flights between Narita and Dhaka; and the launch of local examinations for the specified skills system, and agreed to promote broad-based people-to-people and cultural exchanges.

3. Regional and international affairs​

• （1）Prime Minister Kishida stated that, as the G7 Chair, Japan places importance on two perspectives: upholding a free and open international order based on the rule of law and strengthening relations with partners in the international community beyond the G7. Prime Minister Hasina explained her thoughts on key issues for the international community.
• （2）The two leaders discussed regional affairs, including those in the East and South China Seas, as well as responses to North Korea, including the issue of its nuclear and missile programs and the abduction issue.
• （3）Prime Minister Kishida stated that the international community must join forces to speak out and appeal for an early end to Russia’s aggression against Ukraine, which has shaken the very foundations of the international order. The two leaders agreed to oppose any attempt to unilaterally change the status quo by force or coercion anywhere in the world.
• （4）The two leaders also exchanged views on the issue of displaced persons from Rakhine State, Myanmar. Prime Minister Kishida expressed his respect for Bangladesh’s efforts to shelter displaced persons and his continued support for such efforts. Prime Minister Hasina expressed her gratitude for Japan’s support and explained the importance of their early repatriation to Myanmar.
• （5）The two leaders confirmed that they will continue to work together to strengthen the functions of the United Nations, including through the reform of the Security Council.
  Prime Minister Hasina reaffirmed Bangladesh’s support for Japan’s bid to become a permanent member of the UN Security Council, and Prime Minister Kishida expressed his appreciation for the support. The two leaders also reconfirmed their commitment to continuing to work together on nuclear disarmament and non-proliferation.

Japan-Bangladesh Summit Meeting and Working Dinner

www.mofa.go.jp

https://www.mofa.go.jp/mofaj/files/100496992.pdf

Japan and Bangladesh have recently upgraded their bilateral partnership to a strategic level after the state visit of Bangladesh Prime Minister Sheikh Hasina to Japan. Both countries are keen to develop long-term cooperation, keeping connectivity-centric development in mind.

The two countries have reached a consensus on Bangladesh's greater role in the campaign for a Free and Open Indo-Pacific, and this issue was highlighted in the joint statement issued after the summit between Sheikh Hasina and her Japanese counterpart Fumio Kishida in Tokyo on April 26.

The joint statement also emphasized the importance of cooperation between the two countries to maintain peace and stability under the Indo-Pacific Framework in regional and other areas.

The declaration for a Free and Open Indo-Pacific was agreed upon by the two sides and it was also mentioned that everyone has the right to obey international law and operate ships or aircraft.

The cooperation between the two countries for the preservation of regional and international peace and stability under the Indo-Pacific Framework was the first issue emphasized in the joint statement.

Prime Minister Kishida assured Prime Minister Hasina to consider a new budget support loan. They also decided to resume a bilateral policy dialogue in carrying out development cooperation projects.

North Korea and the Rohingya crisis were among the regional cooperation and international issues that gained importance in the statement. It stressed the importance of dialogue and continued support for the people of Ukraine for the preservation of the integrity of Ukraine and the establishment of peace.

During the summit, eight agreements and cooperation memorandums on agriculture, metro rail, industrial upgrade, ship recycling, customs matters, intellectual properties, defence cooperation, ICT and cyber security were signed between the two countries. The infrastructure improvements will increase connectivity in the region, which will help in the development of Bangladesh and the region.

Bangladesh's Indi-Pacific Outline was also announced two days before the summit to clear its stance on the matter, noting that it considers stability and prosperity in the Indo-Pacific to be a “crucial factor” in realizing the country's Vision 2041.

Japan's Indo-Pacific Strategy has a lot in common with Bangladesh's outlook. Bangladesh has long been persuaded to join the platform which Beijing dubs as anti-China. However, Dhaka has always reaffirmed its foreign policy dictum “Friendship towards all, malice toward none.”

Strategic relationship​

According to experts, the establishment of strategic ties between the two countries is a major event in the geopolitics of the Indo-Pacific region and has regional and international implications.

Bangladesh becomes third after India and China to have established strategic relations with Japan.

It will help achieve the national interest of Bangladesh and will help Bangladesh increase communication with Japan's friendly countries.

It will also help in maintaining a balanced position between China, India and the Western world.

Connectivity​

Bangladesh joined Japan's Indo-Pacific Vision “Big-B Initiative” during Prime Minister Sheikh Hasina's visit to Tokyo in 2014. Since then, Japan has been helping South Chittagong redevelop South Chittagong, considering Matarbari as a regional “connectivity hub.”

Apart from developing it as an energy and logistics hub, Japan has also planned to increase road, rail and maritime connectivity in Matarbari.

For this reason, the two governments are working on the large Maheshkhali-Matarbari Integrated Infrastructure Development Initiative of $2 billion. The joint statement stressed that it should be done properly.

Rohingya crisis​

Many countries in the world do not officially and openly use the term “Rohingya.” This time, the joint statement talks about the situation in Myanmar and the repatriation of the Rohingyas. But instead of using the word “Rohingya,” the statement mentions them as “people expelled from Myanmar.”

In two paragraphs of the statement expressing concern over Myanmar, the two countries expressed their full support for the implementation of Asean's five points. Besides, the issue of freedom and democracy of those who have been arrested in that country is mentioned.

The two prime ministers agreed that if the Rohingya problem persists, the entire region will be at risk and the solution rests with Myanmar.

Defence cooperation​

Last year, Japan announced its National Security Strategy and increased its defence spending manifold. A component of this strategy is the increasing relations with like-minded countries in the region and the growing economy of Bangladesh, and responsible use in the international arena has made Japan interested in the country. The MoU aims to strengthen defence dialogue between the two countries.

In addition, cooperation on visits of officials of the two countries, education, training, organization of seminars, transfer of technology and any other matters based on the consent of both sides. In the joint statement, it was decided that defence wings will be opened in the embassies of the two countries.

Sheikh Hasina informed Japan about the initiative to modernize Bangladesh's military in line with the “Forces Goal 2030.”

Besides, the initiation of negotiations on an agreement on the transfer of defence equipment and technology was also welcomed.

Explainer: What’s new in Japan-Bangladesh relations?

The establishment of strategic ties between the two countries is a major event in the geopolitics of the Indo-Pacific region, experts say

www.dhakatribune.com

 

[Isa Khan]

Japanese real estate and construction company JP Building opened its new Bangladesh chapter "JP Build BD Co", through which the realtor plans to invest $20 million or Tk 216 crore in the local market in the next three years.

JP Build BD Co will provide Bangladesh's real estate sector with construction solutions and sophisticated technology, JP Building said in a statement today.

Japanese Ambassador to Bangladesh Iwama Kiminori and JP Build BD Co Ltd's Chairman Akio Yamamoto inaugurated the company and its first product Nippon elevator at a programme in Dhaka on May 21.

JP Build Company entered into the real estate and construction business in Japan in 2018 and the company's core strength is its quality products and use of modern technology in construction, according to the statement.

JP Build extends services related to solar power plant, eco energy power generation facilities, real estate business and consultation services along with construction work.

JP Build BD Co Ltd will play a special role in the development of Bangladesh's economy and manpower, Yamamoto said at the opening ceremony.

"We will support the construction of modern and earthquake resistant buildings by using skilled workers and modern technology from Japan. We want to be a part of digital Bangladesh through new technology."

"Japan has always been interested in being a partner in development work with Bangladesh," the Japanese ambassador said at the event.

"During the visit of Prime Minister Sheikh Hasina to Japan, my task was to make as many Japanese investors as possible interested in working in Bangladesh."

Md Amin Helaly, vice president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI); Susumu Saki, chairman of JBS Holdings Limited; Md Iqbal Hossain Chowdhury, director of FBCCI, and Kamal Chowdhury, CEO of JBS Holdings Limited, also attended the programme.

Japanese realtor JP Building to invest $20 million in Bangladesh

It opens new company for Bangladesh named JP Build BD Co

www.thedailystar.net

 

[Isa Khan]

Japan will get the ground handling work at the third terminal of Hazrat Shahjalal International Airport in Dhaka, said Civil Aviation Authority of Bangladesh (CAAB) Chairman Air Vice Marshal M Mafidur Rahman on Saturday.

"Japan has shown interest in getting the ground handling work and the government has decided to give them the job," said the CAAB chairman while speaking at the ATJFB Dialogue organised by the Aviation and Tourism Journalist Forum of Bangladesh at the Dhaka airport.

He said the terms of the work will be determined through a Public-Private Partnership (PPP) for the project.

Currently, Biman Bangladesh Airlines operates ground handling works in all airports, but their services are under question from stakeholders. On this ground, the authority has decided to engage a foreign company to operate ground handling in the third terminal.

At the event, the CAAB chairman also expressed hope about the positive response from the USA to start the Dhaka-New York flight at the end of this year.

"We are getting good responses from the USA. But we have some weaknesses, too. The airline companies are required to apply for approval before launching a flight. However, Biman Bangladesh Airlines faced delays in submitting their application," he said.

"We have informed the Biman about this. They applied late. The process has also been delayed due to Covid-19," he added.

Regarding the purchase of aeroplanes of the Biman, the CAAB chairman said that it will be done following Prime Minister Sheikh Hasina's instructions to increase the fleet of aeroplanes and cargo capacity.

"It is not a matter of choosing Airbus or Boeing. We will pick the one who gives us a good offer. We have a previous relationship with Boeing, and the issue of Airbus has also come forward. If Airbus makes a better offer than Boeing, we will pick that," he said.

He mentioned that the plan for the Bangabandhu airport has temporarily been suspended due to the economic situation.

Regarding fixing the rent of the hangars of helicopter operators, Mofidur Rahman said, "The helicopter sector is contributing to the socio-economic development of the country. We have set a low rent for them. We have proposed to the finance ministry to finalise the rent."

In response to a question about the behaviour of the airport staff, he said, "So far, 19 trainings have been given to the airport staff on behaviour. The executive director of Dhaka airport is personally giving them instructions. Those who are misbehaving are being removed, and financial penalties are also being imposed through the executive magistrate."

Addressing the journalists' complaint about Ansar members demanding money from passengers at the airport, he acknowledged,

"The reports of Ansar members asking for money are not baseless. We are actively monitoring this issue and have taken action against some individuals based on evidence."

"We have also communicated this matter to the director general of Ansar for further attention," he added.

Japan to get ground handling job of 3rd terminal of Dhaka airport: CAAB chairman

He said the terms of work will be determined through a Public-Private Partnership (PPP) for the project

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[Isa Khan]

Japanese enterprises maintain a positive outlook on Bangladesh's burgeoning economic prospects, with an impressive 71.6% of companies currently active in the country expressing a strong inclination to expand their operations over the next one to two years.

According to a survey conducted by the Japan External Trade Organization (Jetro), in terms of business expansion, Bangladesh ranks second after India at 72.5% among the countries in the Asia and Oceania regions where Japanese companies have operations.

The survey unveiled on Wednesday at a programme in Dhaka said 44.4% of the companies think expansion is their approach to future business activities in the next one or two years.

Jetro conducted the survey from 22 August to 21 September 2022, and responses from nearly 4,392 companies (almost 31% of Japanese firms in this region) were considered, said Yuji Ando, country representative of Jetro.

Some 214 Japanese companies that are present in Bangladesh also took part in the survey.

Also, 61.8% of Japanese companies in Bangladesh expect their profits to increase in 2023.

"Business sentiment for Japanese companies in Bangladesh is rather high in the Asia and Oceania region. Especially, domestic market size and growth potential are high," finds the survey.

The report also says for competitive labour costs, Bangladesh has the second-highest ratio of export volume to total sales in the region. Local procurement is the key factor for reducing production costs, it says.

Like before, Japanese firms find the business environment a bottleneck in Bangladesh.

"From a comparative perspective (especially with ASEAN countries), it would be necessary for the business environment in Bangladesh to be improved by addressing the issues for Japanese companies in Bangladesh, especially in customs clearance procedures," it says.

The survey also mentions that as the utilisation rate of GSP facilities for Japanese companies in Bangladesh is high, trade agreements like the Economic Partnership Agreement (EPA) would be expected.

"By realising the competitive investment climate through EPA, Bangladesh would be the next investment destination for Japanese companies," said Yuji Ando.

Some 69.1% of the companies involved in trading in the whole region use a Free Trade Agreement (FTA), EPA, or Generalised System of Preferences (GSP). The actual utilisation ratio of GSP in Bangladesh is 72.7%, says the report.

"Trade agreements, like EPA, are significant for Bangladesh since Bangladesh is not eligible for GSP after LDC graduation," says the Jetro country representative in Dhaka.

Regarding the operating forecast for 2023 in the whole region, 43.3% of the companies expected an increase, while 12.3% expected a decrease.

In the ASEAN region, 44.9% of the companies forecast a profit increase, and 44.1% expect it to remain the same as the previous year.

Md Saiful Islam, president of the Metropolitan Chamber of Commerce and Industry (MCCI), Lokman Hossain Miah, executive chairman of the Bangladesh Investment Development Authority, and IWAMA Kiminori, Japanese ambassador to Bangladesh, also spoke on the occasion.

Tetsuro Kano, president of the Japanese Commerce and Industries Association in Dhaka; Nihad Kabir, of the MCCI; Abdus Samad Al Azad, joint secretary (FTA-1), Ministry of Commerce; and Manabu Sugawara, vice president of the Japan Bangladesh Chamber of Commerce and Industries, were panellists during a panel discussion.

71.6% of Japanese firms eye expansion in Bangladesh

Japanese enterprises maintain a positive outlook on Bangladesh's burgeoning economic prospects, with an impressive 71.6% of companies currently active in the country expressing a strong inclination to expand their operations over the next one to two years. According to a survey conducted by the...

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[Isa Khan]

Water cannons were spouted while landing gears of Biman Bangladesh Airlines Dreamliner Boeing 787 Gangchil touched Narita international Airport's taxiway after 17 long years.

The national flag carrier received the water cannons reception at the airport, 60 kilometers east of Tokyo, as the Biman's first flight of direct Dhaka-Narita route BG 0376 arrived here at 9 am (local time) on Saturday.

Water cannons reception is a traditional etiquette of aviation sector where airports welcome any new airline to its taxiway by washing the aircraft spouting water through water cannons from both side to show honor to the new airline.

Officials of Narita airport welcomed the Biman's delegation headed by State Minister for Civil Aviation and Tourism M Mahbub Ali at the airport lounge.

In a welcome ceremony at the lounge, the state minister expressed his hope that the Biman's direct connectivity to Japan will open new doors of trade, tourism and cultural exchanges between Bangladesh and Japan.

He said the direct air connectivity will add value to the ties between Bangladesh and Japan while the two friendly countries have elevated its bilateral relations to strategic partnership during the recent visit of Prime Minister Sheikh Hasina to Tokyo.

"The new flight will further strengthen the bilateral relations between Bangladesh and Japan as the direct connectivity increases people to people contact between the two nations," he said.

The state minister hoped that the new flight would give a boost to Bangladesh-Japan bilateral trade and also attract Japanese tourists to visit exciting tourist spots of Bangladesh.

Mahbub expressed his optimism to make the new route profitable to attract passengers from Nepal, Bhutan and north eastern states of India apart from Bangladeshi nationals.

Managing Director and CEO of Biman Bangladesh Shafiul Azim said Biman has already offer lucrative packages with more weight on baggage for its Narita route to attract travelers from Nepal and Kolkata.

The Biman chief said the national flag carrier is planning to carry its
passengers to Australia, the west coast of the United States and Canada with the help of other carriers via Japan through code sharing.

"We are exploring with other airlines interlinking or code sharing so that we can offer our passengers different routes beyond Japan like a 360 degree airline," Azim said.

He said currently Biman is working with Japan Airlines Ltd (JAL), All Nippon Airways and Air Canada for code sharing.

Biman working on reaching four destination - Los Angles, Vancouver, Sydney and Seoul- through code sharing.

Code sharing is a marketing arrangement in which an airline places its designator code on a flight operated by another airline, and sells tickets for that flight.

Airlines throughout the world continue to form code-share arrangements to strengthen or expand their market presence and competitive ability.

Apart from expatriate Bangladeshi community, there are about 41,000 Indians, and 1.40 lakh Nepalese nationals living in Japan.

According to the Ministry of Justice, Japan, till 2022, there were 20,954
Bangladeshis living in Japan.

Biman will operate weekly three flights with Dreamliner 787-8 and 787-9 aircrafts.

The flight will depart from Dhaka every Friday, Monday and Wednesday and from Narita every Saturday, Tuesday and Thursday.

Currently the national flag carrier is negotiating with Airbus, to purchase 10 brand new planes from the European aircraft manufacturer.

At present, Biman has a total of 21 aircraft in its fleet, of these, four are Boeing 777-300 ER, four are Boeing 787-8, two are Boeing 787-9, six are Boeing 737 and five are Dash 8-400 aircraft.

Water cannons spout as Biman touches Narita's runway

Water cannons reception is a traditional etiquette of aviation sector where airports welcome any new airline to its taxiway by washing the aircraft spouting water through water cannons from both side to show honor to the new airline

publisher.tbsnews.net

 

[Isa Khan]

Prime Minister Sheikh Hasina today said Bangladesh will allocate more space to Japan in export processing zones (EPZs) for setting up industries if they want.

The premier said this as a Japanese delegation informed her that many companies of their country are interested to invest in Bangladesh.

Sheikh Hasina said, "Bangladesh has given space to Japan in the EPZs, and we can give more (space) if Japan wants to set up industries."

The five-member Japanese parliamentary delegation, led by director of the committee on general affairs, House of Councillors, Nakanishi Yusuke paid the courtesy call on the Prime Minister at her official residence Ganabhaban.

The premier's press secretary Ihsanul Karim briefed the reporters after the meeting.

The delegation said that the existing development partnership between Japan and Bangladesh has to be carried forward and strengthened further.

Japan has been working on different mega projects, including the metro-rail, said the delegation members, adding: "Japan is contributing in infrastructure development, especially mega projects of Bangladesh."

Lauding the commencement of direct flight between Dhaka and Narita, they said it will improve the connectivity.

The Japanese delegation also stressed the necessity of keeping the Indian Ocean peaceful for trade and business.

They highly appreciated Bangladesh's success in women empowerment and education.

In reply, the Prime Minister said: "Our girls study in a much larger number in educational institutions than boys, and we are providing free of cost education to the girls."

Sheikh Hasina sought Japanese assistance to build a sea aquarium in the country.

Earlier, Chairman of Nippon Foundation Yohei Sasakawa paid a courtesy call on the Prime Minister at the Ganabhaban.

During the meeting, Yohei Sasakawa told the premier that the Nippon Foundation will provide US$ 3 million for Rohingya support in Bhasanchar.

Regarding the Rohingya people, the Prime Minister said they have to go back to their own country, Myanmar.

She added: "Myanmar is our neighbouring country, we are communicating with them. Their citizens (Rohingya) must be taken back to their own country."

Yohei Sasakawa, an 84-year old person who survived along with his mother in the Second World War when over one lakh people died, also highlighted the friendship between Bangladesh and Japan.

He praised Bangladesh's effort to eliminate leprosy and rehabilitate the people suffering with Leprosy.

The Nippon's Foundation chairman invited the Prime Minister to join the National Leprosy Conference to be held in Dhaka in October this year.

Prime Minister's Principal Secretary M Tofazzel Hossain Miah, Foreign Secretary (Senior Secretary) Masud Bin Momen and Japanese Ambassador to Bangladesh Iwama Kiminon were present.

Bangladesh to allocate more space for Japanese industries: PM

Sheikh Hasina sought Japanese assistance to build a sea aquarium in the country.

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[Isa Khan]

Bangladesh and Japan are poised to initiate discussions on an economic partnership agreement by the end of the month, according to information obtained by Nikkei.

The two nations aspire to finalize the agreement in 2025. Japan is a major importer of textiles from Bangladesh, and numerous Japanese enterprises have made investments in the South Asian country, reports Nikkei.

However, Bangladesh is expected to be upgraded from a United Nations list of "least-developed countries" in 2026, meaning that it will no longer be exempt from tariffs on exports to developed nations.
According to reports, an EPA would suppress the effect of the status change on Bangladesh's exports to Japan.

Meanwhile, Tokyo hopes Dhaka will lower tariffs on imported steel and automobiles -- which are around 10% and 25%, respectively -- as the Bangladeshi economy grows quickly and demand for infrastructure expands.

The sides will negotiate tariffs on rice and Japanese beef, or Wagyu, with Tokyo hoping to increase its agricultural product exports, says Nikkei.

Japan imported about $1.72 billion of goods from Bangladesh in 2022. Apparel, such as clothes and shoes, made up over 90% of the imports. Japan's exports to Bangladesh totaled about $2.57 billion, of which roughly 30% was iron and steel.

As of May 2023, 338 Japanese companies had offices or branches in Bangladesh, doubling over a decade, according to a research by Japan External Trade Organization. These companies could suffer a blow to business if the tariffs suddenly rise after Bangladesh is removed from the list of least-developed countries. In some cases, textile exports can be exposed to a tariff of over 10%.

This is the first time Japan will negotiate an EPA with a country that is about to lose its designation as a least-developed country.

The governments of Bangladesh and Japan began research about a potential EPA in December 2022. A report issued after the research suggested the countries begin negotiations, saying an EPA would not only lead to expanded trade and investment, but would also strengthen political and diplomatic relationships.

Japan also hopes to establish standards in tariffs and trade rules as Bangladesh explores a free trade agreement with China.

Negotiations will also involve easing the burden of paperwork, among other procedures required for importing and exporting.

Bangladesh and Japan to negotiate economic partnership agreement

An EPA would suppress the effect of the status change on Bangladesh's exports to Japan

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Japanese company Mitsubishi Heavy Industries has expressed interest in establishing a fertiliser factory in Bhola through a joint venture with the government, capitalising on the natural gas reserves found there.

A four-member delegation from the multinational firm, led by Project Manager of the Ghorashal-Polash Urea Fertilizer Project Yuichi Sayama, expressed their willingness to invest in the new project during a meeting with Industries Minister Nurul Majid Mahmud Humayun at the secretariat on Sunday.

"We have plans to set up a fertiliser factory in Bhola, similar to the Ghorashal-Polash Urea Fertilizer Factory. The expected annual production capacity of the factory is 5 lakh tonnes," said Nurul Majid after the meeting.

He said some Chinese and Korean companies have already expressed their interest in partnering in the project, but the government prefers to work with Japanese companies.

Responding to journalists, the industries minister said they plan to complete the project within the tenure of the new government.

SM Alam, additional secretary of the industries ministry, said, "It is difficult to transport gas from Bhola, as it is an isolated island district."

Setting up a fertiliser factory will be a way to use the gas and meet domestic demand for fertiliser, he added.

SM Alam said the new fertiliser factory would be a joint venture project, which will be a win-win for both parties.

Talking with TBS, Md Abdul Wahed, private secretary (joint secretary) to the industries minister, said the minister visited Bhola on Thursday along with State Minister for the Ministry of Power, Energy, and Mineral Resources Nasrul Hamid.

Gas has been found, and land is also available there, he said.

The ministry wants to conduct a formal feasibility study for setting up the fertiliser factory, Wahed added.

At the meeting, the Mitsubishi delegation presented a written report on the latest status of the Ghorashal-Polash Fertilizer Factory to the industry minister. They expressed hope that they would officially hand over the fertiliser factory to the government by the end of February.

The Japanese firm is a construction partner of Bangladesh's largest fertiliser factory.

He said before the handover of the project that Mitsubishi plans to restart the factory today with 50% capacity. Ten days later, they aim to increase it by another 25%, and at full capacity after another 10 days.

He further said if the factory can run smoothly for the next 10 days, it will not be shut down again unless the gas supply is disrupted.

After the discovery of the Shahbazpur gas field in Borhanuddin, Bhola, in 1993-94, nine wells were subsequently drilled in Bhola Sadar, Borhanuddin upazila, and Ilisha.

As of now, the total gas reserve in the district's three gas fields stands at 2.43 trillion cubic feet, and the authorities have a daily gas extraction capacity of more than 200 million cubic feet from the fields.

According to BAPEX, the power stations and industrial and residential customers of Bhola currently consume 85 million cubic feet of gas from the fields in the district daily.

A small quantity is supplied as compressed natural gas (CNG) to industries in other regions.

The government also plans to supply gas from Bhola to Khulna via pipeline.

Bangladesh has seven fertiliser factories, five urea factories, a Triple Super Phosphate (TSP) fertiliser factory, and another one is the Diammonium Phosphate (DAP) fertiliser factory.

The country's annual demand for urea has been estimated at 26 lakh tonnes, and the local factories have the capacity to produce about 20 lakh tonnes

Currently, the local fertiliser factories are unable to use their full capacity due to gas shortages.

Mitsubishi keen to partner in setting up fertiliser factory in Bhola

Japanese company Mitsubishi Heavy Industries has expressed interest in establishing a fertiliser factory in Bhola through a joint venture with the government, capitalising on the natural gas reserves found there. A four-member delegation from the multinational firm, led by Project Manager of the...

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[Isa Khan]

Bangladesh and Japan have agreed to officially commence negotiations for the signing of an Economic Partnership Agreement (EPA) by 2026, with Dhaka aiming to attract more investment from the world's fourth-largest economy while also securing the continuation of duty-free export facilities after its graduation from least developed country status.

State Minister for Commerce Ahasanul Islam and Japanese Ambassador to Bangladesh Iwama Kiminori made the announcement at a joint press conference at the ministry in Dhaka on Tuesday.

Japan is one of Bangladesh's largest trade and investment partners. As an LDC, the South Asian nation currently benefits from duty-free market access to Japan, which will cease to exist after LDC graduation. Without the signing of a free trade agreement, or EPA, Bangladesh will face average tariffs of 18% on exports to the island nation.

Bangladesh's exports to the Japanese market are rapidly increasing. Shipments from Bangladesh to the East Asian country totalled $1.9 billion last fiscal year, while imports amounted to $2 billion.

Currently, more than 300 Japanese firms have invested in Bangladesh. Japan's total foreign direct investment in Bangladesh since independence amounts to a mere $3 billion.

Ahasanul Islam said the Japanese Economic Zone is being established in Narayanganj's Araihazar to boost investments from that country. Japan's investment in the industrial zone will amount to $1.6 billion. Additionally, the country has invested in the Matarbari deep-sea port.

He noted that approximately $100 billion in investment is expected to come to Bangladesh as a result of this port.

Iwama Kiminori said the two countries have decided to commence formal negotiations on signing the EPA. Once this agreement is finalised, it will not only increase the export of goods and services but also simplify the investment environment, reduce duties, and create trade facilities. This, in turn, will lead to an increase in Japanese investment in Bangladesh.

The Japanese envoy further mentioned that existing non-tariff barriers and customs barriers in bilateral trade will be removed by signing and implementing the EPA. This will benefit the economy of Bangladesh as a whole. The EPA will not only focus on market access but also contribute to overall economic development. It will be a win-win situation for both countries.

The state minister for commerce noted that once the EPA is signed with Japan, it will facilitate the transformation of Bangladesh's economy into a smart economy. By signing the EPA, Bangladesh will prioritise 13 potential sectors, thus encouraging Japanese industrial ventures.

"We see Japan as our strategic partner. Projects such as the Matarbari deep seaport and the metro rail in Dhaka have been initiated with their investment. Japan has been supporting Bangladesh since the latter's emergence as a sovereign country. Therefore, the EPA negotiations will be conducted in a very friendly manner," Ahasanul Islam added.

Commerce Secretary Tapan Kanti Ghosh remarked, "If there is no EPA, exports to Japan will be subject to an average tariff of 18%. That's why we are urgently aiming to sign the EPA by 2026."

He went on to say that if the EPA cannot be signed before Bangladesh's LDC graduation, Bangladesh can still maintain the existing GSP benefits through bilateral negotiations until the agreement is finalised. Additionally, he emphasised the potential for increased investment from Japan.

Officials at the commerce ministry noted that Bangladesh has no prior experience in signing FTAs or EPAs. While Bangladesh has initiated efforts to sign free trade agreements with various countries, including India and China, ahead of LDC graduation, the commerce ministry is particularly eager to prioritise signing the EPA with Japan.

The secretary acknowledged that once negotiations commence, it cannot be guaranteed that they will be swiftly completed. He cited the example of India's negotiations on signing an FTA with the European Union since 2007, which is yet to be finalised.

Bangladesh and Japan conducted a joint study in the interest of signing the EPA and have identified 17 sectors as having scope and coverage.

The sectors cover trade in goods, including trade remedies, rules of origin, customs procedures and trade facilitation, sanitary and phytosanitary measures, technical barriers to trade, trade in services, investment, electronic commerce, government procurement, intellectual property, competition, subsidies, state-owned enterprises, improvement of business environment, labour, environment, transparency, cooperation, and dispute settlement.

On 27 December, both countries released the joint feasibility study report.

Dhaka expects EPA with Tokyo by 2026 for post-LDC duty-free access

State Minister for Commerce Ahasanul Islam and Japanese Ambassador to Bangladesh Iwama Kiminori made the announcement at a joint press conference at the ministry in Dhaka on Tuesday.

www.tbsnews.net

 

[Jammer]

View attachment 66559

Bangladesh and Japan have agreed to officially commence negotiations for the signing of an Economic Partnership Agreement (EPA) by 2026, with Dhaka aiming to attract more investment from the world's fourth-largest economy while also securing the continuation of duty-free export facilities after its graduation from least developed country status.

State Minister for Commerce Ahasanul Islam and Japanese Ambassador to Bangladesh Iwama Kiminori made the announcement at a joint press conference at the ministry in Dhaka on Tuesday.

Japan is one of Bangladesh's largest trade and investment partners. As an LDC, the South Asian nation currently benefits from duty-free market access to Japan, which will cease to exist after LDC graduation. Without the signing of a free trade agreement, or EPA, Bangladesh will face average tariffs of 18% on exports to the island nation.

Bangladesh's exports to the Japanese market are rapidly increasing. Shipments from Bangladesh to the East Asian country totalled $1.9 billion last fiscal year, while imports amounted to $2 billion.

Currently, more than 300 Japanese firms have invested in Bangladesh. Japan's total foreign direct investment in Bangladesh since independence amounts to a mere $3 billion.

Ahasanul Islam said the Japanese Economic Zone is being established in Narayanganj's Araihazar to boost investments from that country. Japan's investment in the industrial zone will amount to $1.6 billion. Additionally, the country has invested in the Matarbari deep-sea port.

He noted that approximately $100 billion in investment is expected to come to Bangladesh as a result of this port.

Iwama Kiminori said the two countries have decided to commence formal negotiations on signing the EPA. Once this agreement is finalised, it will not only increase the export of goods and services but also simplify the investment environment, reduce duties, and create trade facilities. This, in turn, will lead to an increase in Japanese investment in Bangladesh.

The Japanese envoy further mentioned that existing non-tariff barriers and customs barriers in bilateral trade will be removed by signing and implementing the EPA. This will benefit the economy of Bangladesh as a whole. The EPA will not only focus on market access but also contribute to overall economic development. It will be a win-win situation for both countries.

The state minister for commerce noted that once the EPA is signed with Japan, it will facilitate the transformation of Bangladesh's economy into a smart economy. By signing the EPA, Bangladesh will prioritise 13 potential sectors, thus encouraging Japanese industrial ventures.

"We see Japan as our strategic partner. Projects such as the Matarbari deep seaport and the metro rail in Dhaka have been initiated with their investment. Japan has been supporting Bangladesh since the latter's emergence as a sovereign country. Therefore, the EPA negotiations will be conducted in a very friendly manner," Ahasanul Islam added.

Commerce Secretary Tapan Kanti Ghosh remarked, "If there is no EPA, exports to Japan will be subject to an average tariff of 18%. That's why we are urgently aiming to sign the EPA by 2026."

He went on to say that if the EPA cannot be signed before Bangladesh's LDC graduation, Bangladesh can still maintain the existing GSP benefits through bilateral negotiations until the agreement is finalised. Additionally, he emphasised the potential for increased investment from Japan.

Officials at the commerce ministry noted that Bangladesh has no prior experience in signing FTAs or EPAs. While Bangladesh has initiated efforts to sign free trade agreements with various countries, including India and China, ahead of LDC graduation, the commerce ministry is particularly eager to prioritise signing the EPA with Japan.

The secretary acknowledged that once negotiations commence, it cannot be guaranteed that they will be swiftly completed. He cited the example of India's negotiations on signing an FTA with the European Union since 2007, which is yet to be finalised.

Bangladesh and Japan conducted a joint study in the interest of signing the EPA and have identified 17 sectors as having scope and coverage.

The sectors cover trade in goods, including trade remedies, rules of origin, customs procedures and trade facilitation, sanitary and phytosanitary measures, technical barriers to trade, trade in services, investment, electronic commerce, government procurement, intellectual property, competition, subsidies, state-owned enterprises, improvement of business environment, labour, environment, transparency, cooperation, and dispute settlement.

On 27 December, both countries released the joint feasibility study report.

Dhaka expects EPA with Tokyo by 2026 for post-LDC duty-free access

State Minister for Commerce Ahasanul Islam and Japanese Ambassador to Bangladesh Iwama Kiminori made the announcement at a joint press conference at the ministry in Dhaka on Tuesday.

www.tbsnews.net

Bangladesh seems to be fully banking on FTAs after exiting LDC status when its own home industry isn't ready for the competition it is gonna bring in a lot of sectors.

 

[Afif]

Ahasanul Islam said the Japanese Economic Zone is being established in Narayanganj's Araihazar to boost investments from that country. Japan's investment in the industrial zone will amount to $1.6 billion. Additionally, the country has invested in the Matarbari deep-sea port.

He noted that approximately $100 billion in investment is expected to come to Bangladesh as a result of this port.

A single deep sea port will get us $100 billions in investment? Lol, how does it work? @Nilgiri