Bangladesh, Japan to form Joint Working Group to boost trade, investment

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Commerce Minister Tipu Munshi on Wednesday said a Japan-Bangladesh Joint Working Group will be formed to improve trade and investment.

The minister made the remarks throughout 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 likely to be signed between Bangladesh Competition Commission and Japan Fair Trade Commission.

Tipu Munshi said the relationship between your Japan External Trade Organisation (JETRO) and the Export Promotion Bureau of Bangladesh has been strengthened to improve trade between your two countries.

It really is expected that Japan’s trade and investment with Bangladesh will increase in the upcoming days.

Tipu said that 100 special financial zones are being setup in the united states. Many countries including Japan attended forward to purchase 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 pleased 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 could sign FTA (Free Trade Area) with Japan.

Bangladesh does well in manufacturing light machineries and Japan is interested to cooperate in this sector, he said.
Source: https://unb.com.bd

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