Focus on accelerating transition of Japan-Bangladesh ties

Speakers at a discussion have stressed the need for focusing on the acceleration of the transition of Japan-Bangladesh bilateral relations from a comprehensive to a strategic partnership.

They emphasised the importance while speaking at a panel discussion titled “Our Shared Aspiration: Accelerating the Japan-Bangladesh Strategic Partnership” organised by Standard Chartered, Japan-Bangladesh Chamber of Commerce & Industry (JBCCI), Japanese Commerce and Industry Association in Dhaka (JCIAD, Shoo-Koo-Kai), and Japan External Trade Organization (JETRO) recently.

The speakers further said building a strategic partnership between Bangladesh and Japan leverages the decades-long friendship between the two nations in an effort to deepen the economic cooperation and promote growth.

They also laid emphasis on driving collaboration across the board to facilitate the development and progress of infrastructure, trade, investment flows, and sustainable finance. As one of the largest foreign investors in Bangladesh, Standard Chartered has been playing a leading role in attracting and facilitating foreign trade and investment.

Speaking at the event, Naser Ezaz Bijoy, Chief Executive Officer, Standard Chartered Bangladesh said, “Japan-Bangladesh partnership involves a huge element of trust and confidence that has been built over time through our people-to-people connections as well as a journey of economic prosperity that both the countries have taken together.”

“Under the guidance of Sheikh Hasina, Prime Minister of the People’s Republic of Bangladesh, and Kishida Fumio, Prime Minister of Japan, the strategic partnership will transform our economic landscape and accelerate the inclusive prosperity journey.”

He added: “The three strategic areas key to Bangladesh’s continued prosperity are the digital economy, agro-business, and sustainable finance–each of these areas, Japan can contribute significantly.”

Yusuke Asai, Chief Executive Officer, Standard Chartered Japan said, “Japanese companies will keep aiding Bangladesh with investments in infrastructure and renewable energy going forward, to catalyse the growth of Bangladesh’s economy and business relationship between the two countries.”

Iwama Kiminori, Ambassador Extraordinary and Plenipotentiary of Japan to Bangladesh said, “Last year, Japan and Bangladesh celebrated the 50th anniversary of the establishment of the Japan-Bangladesh relationship. This transition marks the beginning of the new era in our relations.”

Honourable Prime Minister Sheikh Hasina elevated the bilateral relationship so that the two nations can commence bilateral cooperation in new areas beyond traditional ones, he said.

“Both leaders from Japan and Bangladesh share their determination to enhance cooperation specifically in three major areas which are cooperation for peace and stability in the region and beyond, the deepening economic cooperation for mutual benefits and regional prosperity and expansion of cultural cooperation and people-to-people exchanges.”

Myung-Ho Lee, President, Japan-Bangladesh Chamber of Commerce & Industry (JBCCI) said, “Economic Partnership Agreements (EPA) between Japan and Bangladesh should be in effect before the LDC graduation in 2026.”

“For that, EPA negotiations must start early. EPA will help grow the investment between both the countries, not just trade. More investment from Japan will lead to more local employment and more commercial activities in Bangladesh.”