Commerce Minister Tipu Munshi on Wednesday said a Japan-Bangladesh Joint Working Group would be formed to boost trade and investment.
The minister made the remarks during a views exchange meeting with Japanese Ambassador Naoki Ito at the Secretariat, said a PID handout.
“Japan is a development partner. Several [Japanese] companies, along with JICA, are working with reputation in Bangladesh. Barriers in trade and investment could be removed by forming a Joint Working Group,” he said.
The minister said Prime Minister Sheikh Hasina is scheduled to visit Japan soon and during her visit a memorandum of understanding is expected to be signed between Bangladesh Competition Commission and Japan Fair Trade Commission.
Tipu Munshi said the relationship between the Japan External Trade Organisation (JETRO) and the Export Promotion Bureau of Bangladesh is being strengthened to boost trade between the two countries.
It is expected that Japan’s trade and investment with Bangladesh will increase in the upcoming days.
Tipu said that 100 special economic zones are being set up across the country. Many countries including Japan have come forward to invest in Bangladesh.
Last year, Japan was the lead investor in Bangladesh, he said, adding that Trade with Japan is also increasing.
Japanese Ambassador Ito said Japan happy with Bangladesh’s improvement in the ease of doing business index. Japan also expects that Bangladesh’s GDP would increase to double-digit soon.
He said Japan is also keen to increase trade and investment with Bangladesh. If Bangladesh government wants, it can sign FTA (Free Trade Area) with Japan.
Bangladesh is doing well in manufacturing light machineries and Japan is interested to cooperate in this sector, he said.