Written by The Banking Post
Japan is hopeful about signing an Economic Partnership Agreement (EPA) with Bangladesh soon, Ambassador Saida Shinichi said during a meeting with Dhaka Chamber of Commerce and Industry (DCCI) President Taskeen Ahmed at the chamber’s Gulshan Centre on Tuesday.
The envoy noted that the seventh round of EPA talks was recently held in Tokyo, where both sides agreed to conclude the deal at the earliest. “The partnership will open a new window of economic opportunities for both countries,” Shinichi said.
Taskeen Ahmed highlighted Japan’s longstanding role in Bangladesh’s development, from infrastructure and trade to investment. He said Japanese entrepreneurs have already invested about US$507 million in sectors such as fertiliser, textiles, power, gas, petroleum, construction and ICT, while Japan’s total global outward investment reached US$184 billion.
He urged Japanese businesses to take advantage of Bangladesh’s investment incentives and called for deeper cooperation in automobiles, machinery, electrical equipment, agro-processing, logistics, jute, footwear, ICT, infrastructure and skilled-manpower development. He also sought Japanese support for Bangladesh’s growing SME sector to boost exports.
Bilateral trade between the two nations stood at US$3.12 billion in FY2023-24, with imports at US$1.81 billion and exports at US$1.31 billion, according to the Export Promotion Bureau. Japan ranks as Bangladesh’s 12th-largest export market, ninth-largest import source and 11th-largest FDI provider.
Ambassador Shinichi said Bangladesh’s domestic market is expanding and, with existing investment facilities, Japanese entrepreneurs are likely to scale up operations. He added that skilled Bangladeshi IT professionals could collaborate with Japan’s advanced technology sector for mutual benefit.
DCCI Senior Vice-President Razeev H Chowdhury and Vice-President Md Salem Sulaiman also attended the meeting.
