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Among Asian countries, Japan will make the largest investment in Bangladesh, said Ito Naoki, the country’s ambassador to Dhaka.
On Thursday, Ito Naoki went to the official residence of the Minister of Commerce and exchanged views with him.
At that time, the Ambassador of Japan informed the Bangladesh Minister of Commerce about this investment. The news was later confirmed in a press release from the Ministry of Commerce.
Trade Minister Tipu Munshi said: “Bangladesh has had friendly trade and economic relations with Japan for a long time. Japan is a great partner in the development of Bangladesh.
“There are many opportunities to increase Bangladesh’s exports to Japan. Bangladesh wants to seize this opportunity. If more trade facilities are provided for the export of ready-made garments, Bangladesh’s exports to Japan will increase.
Bangladesh will become a middle-income country of LDCs in 2024. He then asked the Japanese ambassador to continue the business installation for another five years.
The Trade Minister said: “100 special economic zones are being established in the country under the leadership of Prime Minister Sheikh Hasina. Japan will benefit from investing in these. Bangladesh has announced a package to offer attractive investment opportunities here. Bangladesh is a large market for Japanese-made cars. If Japan establishes a car factory in Bangladesh, it will be profitable.
The Japanese ambassador told Tipu Munshi: “Japan is thinking of setting up a car factory in Bangladesh. Japan will invest heavily in 2,500 special economic zones in Bangladesh; this investment will be the largest in Asia.
“Japan has taken initiatives to increase trade and investment with Bangladesh. Even after graduation from LDCs in 2024, Japan is thinking of continuing the trade facilities granted to Bangladesh. For this, you can do FTA or PTA.
He said Japanese businessmen were interested in increasing trade with Bangladesh, adding that a joint working group could be formed to boost trade and investment between the two countries. There is a great demand for skilled workers in Japan. Bangladesh can seize this opportunity. Bangladesh is advancing rapidly under the leadership of Prime Minister Sheikh Hasina.
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