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Both public and private sectors of Japan and Bangladesh at an economic dialogue on Tuesday discussed future plans for investment and cooperation in different sectors in Bangladesh on a priority basis.
The fifth Japan-Bangladesh public-private joint economic dialogue was held, three years after the last dialogue took place, through a virtual platform with Japan as the host country.
Md Tofazzal Hossain Miah, Principal Secretary to the Prime Minister, led the Bangladesh delegation while Vice-Minister for International Affairs, Ministry of Economy, Trade and Industry (METI) HIRAI Hirohide led the Japan delegation in the dialogue.
The first public-private joint economic dialogue was held after Prime Minister Sheikh Hasina's visit to Japan in 2014, marking the beginning of a new horizon of economic relations between the two countries.
Sources said the Bangladesh side updated the Japanese delegation of 11 issues which have already been addressed by the country out of 20 issues placed by the Japanese side earlier to the Prime Minister's Office (PMO) for improving investment and trade scenario for Japan.
The Bangladesh side, however, highlighted new avenues of trade and investment in agriculture and logistics sectors and the market prospects to the Japanese side.
Meeting sources also said Japan highlighted its Asia Energy Transition Initiative on Decarbonisation saying that Bangladesh may be benefited through collaboration.
According to a press release issued by the PMO, during the fifth meeting, the Japanese side made comments on the existing Japanese investment in Bangladesh as well as on the future plan of investment and cooperation in different sectors of Bangladesh on a priority basis.
The Bangladesh side assured Japan of providing all kinds of cooperation from the government to attract and expand Japanese investment in the country highlighting progress in the areas previously raised by Japanese investors.
Japan has expressed satisfaction with the progress of the programmes implemented in Bangladesh and hoped that this progress will continue in the future without interruption.
In this dialogue, secretary of the Ministry of Agriculture and director general (Executive Cell & Private EPZ) at PMO pointed out the policy support and the incentives provided form the government in the agribusiness and logistics sectors.
Dr FH Ansarey, president, Agribusiness Division of ACI Limited, and Dr M Masrur Reaz, chairman and CEO of the Policy Exchange Bangladesh, presented on the immense opportunities of Japanese investment in the agribusiness and logistics sectors of Bangladesh.
Moreover, both parties discussed future plans in expanding the business of Japanese investors in Bangladesh and expressed satisfaction on the progress made in the activities of the Bangladesh Special Economic Zone in Araihazar upazila of Narayanganj District based on the G2G model.
At this stage, Bangladesh Economic Zones Authority extended an invitation to Japanese investors to consider investing in Bangladesh, especially in the Maheshkhali Economic Zone.
Both parties hoped that through the upcoming visit of Bangladesh prime minister to Japan, the economic relations between the countries will reach a new height.
Chairman of the National Board of Revenue, senior secretaries and secretaries of different ministries, executive chairmen of BIDA, BEZA and BEPZA, deputy governor of Bangladesh Bank and directors general of PMO joined the dialogue.
Presidents and representatives of FBCCI, BGMEA and JBCCI joined the dialogue from the private sector.
Japanese Ambassador to Bangladesh IWAMA Kiminori, Chairman of Japan-Bangladesh Committee for Commercial and Economic Co-operation of Japan Chamber of Commerce and Industries KOKUBU Fumiya, representatives from the Ministry of Foreign Affairs of Japan and other ministries, and heads of Bangladesh offices of JICA and JETRO joined the dialogue.
smunima@yahoo.com