Ambassador of Japan to Bangladesh Iwama Kiminori has expressed his country’s desire to expand the dimensions of cooperation with Bangladesh as bilateral relations between the two countries have been elevated to a strategic partnership, marking an important milestone.
He says, we would like to enhance our relationship on three pillars – firstly, the political pillar which will work to ensure peace and stability in this region as well as in the global arena; secondly, economic cooperation and economic development should be enhanced between the two countries; and thirdly, we would like to expand people-to-people exchange. These three pillars are the same but what has changed is that maybe we can widen the scope of cooperation.
For example, when it comes to the economy, in 2014 the focus was mainly on development assistance. But in 2023, in the strategic partnership agreement, although we stressed development assistance and infrastructural development, there is an additional focus on trade and development.
Now that Bangladesh is aiming at being a middle-income country and aiming to be a developed country by 2041, we are aiming to be mutually beneficial equal partners to enhance trade and investment. According to my understanding and my interpretation, this is a deepening of our economic relationship.
Currently, Japan – Bangladesh trade and Japanese investment in Bangladesh, in comparison with investors or trade partners like the USA or other European countries, the volume of Japanese business in Bangladesh is not so big. If you look at the tendencies, you will find that there are a growing number of Japanese companies which are stationed in Bangladesh even though the number itself is not so big. The main obstacles to inviting Japanese investments are, for example, the complex approval procedures and the delay in customs clearances. There are many obstacles for Japanese investors to invest in Bangladesh. A recent major investment is the BSEZ, the special economic zone in Narayanganj’s Araihazar upazila in December last year.
Even though the real number of investors at this moment is not so big, as far as I have learned from the project manager, the demand and inquiries are very big. I cannot say specifically about any company but I can say that the trend is there, the mood is there.
Japan is constructing terminal three of Dhaka Airport, metro railways, it has opened line six and will continue to do so in line one and line five and so on. The Matarbari Deep Seaport is a very big project. So, all in all, Japan is committed to a huge investment in infrastructural development.
