Staff reporter:
Tokyo has reaffirmed its commitment to continued development assistance to Bangladesh, while opening prospects for greater private investment and human resource development during Prime Minister Tarique Rahman’s four-day official visit to Japan said State Minister for Foreign Affairs Humaiun Kobir.
“The visit reaffirmed Japan’s commitment not only to continuing and expanding its development assistance to Bangladesh but also to creating greater opportunities for private investment and human resource development,” he told a press conference at the Foreign Ministry here this yesterday.
Briefing journalists on the outcomes of the Prime Minister’s October 26–29 visit to Japan, Kobir said the engagements marked an important step towards transforming the longstanding development cooperation between the two countries into a mutually beneficial economic and investment partnership.
The state minister described the visit as effective and fruitful, saying it had reinforced Japan’s development partnership with Bangladesh, while laying the groundwork for a broader economic relationship centred on investment, employment, technology and human capital.
He said the outcomes reflected the government’s “Bangladesh First” foreign policy approach, which prioritised national interests, mutual respect and stronger international economic partnerships.
Bangladesh was seeking to move beyond its traditional dependence on concessional loans and development assistance towards a relationship based on investment, technology transfer, employment generation and shared economic opportunities, he said.
“Bangladesh will be an investment partner. Whoever we do business with, we will do it on the basis of an actual mutual investment partnership,” he said during the question-and-answer session.
Kobir said the emerging relationship would be based on mutual respect and shared economic interests, with neither country occupying a subordinate or dependent position.
One trillion yen investment prospects
Highlighting one of the major outcomes of the visit, the state minister said Prime Minister Rahman and his Japanese counterpart Sanae Takaichi welcomed the prospect of up to one trillion yen, approximately US$6.3 billion, in Japanese private investment in Bangladesh over the next five years.
Such investments could potentially generate around 200,000 jobs in Bangladesh, he said.
Kobir clarified that the proposed investment represented private-sector opportunities rather than a government loan commitment.
Responding to questions about when the investments might materialise, he said a Japanese economic mission was expected to visit Bangladesh soon at a mutually convenient time, following further consultations and joint ministerial engagements.
He stressed that Bangladesh would carefully evaluate investment proposals based on national priorities, affordability, competitiveness and employment generation.
The government would pursue investments that offered value for money and served the country’s economic interests, he added.
BIG-B upgraded for shared prosperity
The state minister said the two countries had agreed to upgrade their longstanding Bay of Bengal Industrial Growth Belt (BIG-B) initiative to “BIG-B for Shared Prosperity”, reflecting their evolving economic partnership.
The upgraded initiative envisages integrated development of energy, deep-sea ports, industrial facilities, ICT infrastructure and connectivity, alongside greater public-private cooperation.
Kobir, however, clarified that discussions under the initiative during the visit were confined to bilateral economic relations between Bangladesh and Japan.
“No third country was discussed,” he said, explaining that any regional arrangement involving other countries would require their participation in the negotiations.
He also reaffirmed that the government would safeguard national interests and ensure transparency and accountability in international agreements.
Continued assistance for major projects
Kobir said Japan had reiterated its commitment to supporting Bangladesh’s major infrastructure and development priorities.
Discussions covered preparations for the early operationalisation of the Third Terminal at Hazrat Shahjalal International Airport, faster implementation of Dhaka’s Mass Rapid Transit projects and future Japanese cooperation in the construction, operation and management of Matarbari Deep Sea Port.
Prime Minister Rahman also expressed gratitude for Japan’s 50-billion-yen, approximately US$314 million, emergency support loan aimed at strengthening economic resilience and ensuring stable energy supplies.
During a meeting with Japan International Cooperation Agency (JICA) President Dr Akihiko Tanaka, the Prime Minister emphasised timely completion of Japanese-funded development projects and sought continued concessional financing and expanded technical cooperation.
Responding to a question about Japan’s lending terms, Kobir said Bangladesh would assess future financing arrangements against other available international options to ensure affordability and economic benefits.
Human resource development, technology transfer
The state minister said human resource development, technical cooperation and industrial modernisation emerged as major priorities during the visit.
The Prime Minister held discussions with leading Japanese business organisations and corporations, including Fast Retailing, the parent company of UNIQLO, Marubeni Corporation, Mitsubishi Corporation, Toyota Tsusho Corporation and representatives of other major enterprises.
The discussions focused on expanding Japanese investment in Bangladesh’s ready-made garment industry, renewable energy, ICT, advanced manufacturing and infrastructure.
Technology transfer, skills development, environmentally sustainable production and export diversification also featured prominently.
The Prime Minister attended the Japan-Bangladesh Economic Forum Dialogue, where he invited Japanese businesses to take advantage of Bangladesh’s investment opportunities.
Kobir said the government was committed to improving the business environment through greater transparency and reforms relating to taxation, customs clearance, remittances and licensing.
Cooperation in energy and manufacturing
During the visit, the Prime Minister inspected JERA’s LNG terminal and power plant in Futtsu and a logistics hub in Chiba Prefecture.
Kobir clarified that the LNG facility visit was intended to gather practical experience and technical knowledge relevant to Bangladesh’s own energy infrastructure plans, rather than negotiate LNG imports from Japan.
The Prime Minister also visited Toyota’s manufacturing facility in Nagoya on October 29, where company officials reaffirmed their interest in establishing manufacturing operations in Bangladesh for automobiles and other machinery.
Six cooperation instruments signed
The state minister said six cooperation agreements and memorandum of understanding were signed during the visit, covering economic relations, the business environment, agriculture, fisheries and livestock, coastal security, climate cooperation and information technology.
Arrangements relating to investment facilitation and local government development were also finalised.
The two sides reaffirmed cooperation in sustainable urbanisation, healthcare, disaster management, environmental protection, human resource development and balanced regional growth.
Kobir said Bangladesh also sought Japan’s continued engagement in finding a sustainable solution to the Rohingya crisis.
The two Prime Ministers also exchanged views on global peace and stability, freedom of navigation and overflight, United Nations Security Council reform and nuclear disarmament.
