The Financial Express

Eye on increased Japan investment

Fourth public-private economic dialogue today

| Updated: July 07, 2019 14:37:38

Evaly and Fianancial Express Evaly and Fianancial Express
Picture used for illustrative purpose only — Collected Picture used for illustrative purpose only — Collected

Bangladesh is set to seek increased Japanese investment and assistance for infrastructure and human resources development at a high-profile dialogue with Japan beginning in Dhaka today.

However, Japan is likely to seek measures by Bangladesh to help enter its products, mainly consumables, and invest in power and energy.

The daylong 'Fourth Joint Japan-Bangladesh Public-Private Economic Dialogue (PPED)' will be held at Bidyut Bhaban in Dhaka.

PMO principal coordinator (SDG) Abul Kalam Azad will lead the Bangladesh side and vice-minister for international affairs of the ministry of economy, trade and industry (METI) the Japanese side.

Around 45 members from PMO, finance and foreign ministries, National Board of Revenue, Bangladesh Investment Development Authority, Bangladesh Export Processing Zones Authority and Public-Private Partnership Authority will attend it.

Leaders of different chambers and trade bodies will also be present.

Nearly a 100-strong Japanese delegation, mostly representing reputed Japanese companies like Marubeni and Itochu will be present at the event.

High officials from Japanese Embassy and Japan External Trade Organisation (JETRO) will also attend it.

The launch of PPED was part of the Japan-Bangladesh comprehensive partnership deal signed during the meetings between the two premiers in 2014.

The first PPED was held in Dhaka on August 21, 2014, under the auspices of the PMO and METI prior to the Japanese prime minister's Dhaka visit.

The second meeting was held on April 15, 2015, and the third on October 31, both in Japan.

According to officials, Dhaka will also highlight the issues of increased exports to Japan.

Tokyo is keen to invest in power and energy sector and ink a memorandum of cooperation to this end, they said.

"We'll discuss issues like leniency in travel alerts by Japan, formation of an automobile policy and IT start-ups at the talks," said an official involved in finalising PPED agenda.

The PPP forum under government-to-government arrangements between the two states will also come up at the policy session of today's PPED, he added. JETRO sources said two Japanese firms Ajinomoto and YKK will present company profiles at morning session.

JETRO country representative Daisuke Arai will present a paper on the potential of consumer goods in Bangladesh market.

When asked, he said many consumer companies want access of their products to Bangladesh market with scope for future investment in manufacturing. But high tax on their produced items create bar in entering into the country, he told the FE.

Mr Arai said Japan would seek necessary government measures to check substandard and illegal products and allow quality Japanese items in the local market.

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