Japan’s support will encourage other nations to invest in the country
The prime minister’s four-day visit to Japan provides a good indicator of the friendly relations between our two countries.
Japan has always been a valuable friend to Bangladesh and is a key investor and trade partner. Its commitment to provide 600 billion Yen ($6 billion) of additional financial assistance, within the next five years, adds to the steadfast support JICA has given to the metro rail project and Japan’s recent $1.18bn soft loan package.
We welcome these deals as an important vote of confidence in the future of Bangladesh.
The proposal by Japanese Prime Minister Shinzo Abe for a Bay of Bengal Industrial Growth Belt to help Bangladesh take advantage of its location between South and East Asia, adds an extra long-term dimension to the discussions to boost mutual trade and co-operation.
More immediately, the memorandum signed between JETRO and the Bangladesh Export Processing Zones Authority to reserve facilities in five EPZs provides a major incentive to boost investment by private sector Japanese investors in Bangladesh. The indications given that Japan will review its rules for knitwear imports are particularly welcome as a potential boost for our exports.
It is important to maximise the benefits of the new assistance on offer, by investing strategically to improve the country’s infrastructure and productivity.
We hope that by highlighting specific project proposals, such as the Ganges Barrage, new Jamuna bridge and tunnels, restoration of rivers and the multi-modal Dhaka Eastern Bypass, that this week’s talks will encourage multilateral institutions and other nations to add to Japan’s support.
Source: Dhaka Tribune
