Prime Minister returns home after Japan visit with six agreements and yen-loan pledges

Prime Minister Tarique Rahman has returned home from Japan after a four-day official visit. Deputy Press Secretary Shahadat Swadhin said the Biman Bangladesh Airlines flight carrying the Prime Minister, his wife Dr Zubaida Rahman and his entourage landed at Hazrat Shahjalal International Airport in Dhaka at 2:48 a.m. on Friday. The flight had departed Tokyo's Narita International Airport at 10:55 p.m. local time on Thursday. The visit aimed to strengthen bilateral relations, increase investment and expand trade and economic cooperation between the two countries.

Present at the airport to receive the Prime Minister were Home Minister Salahuddin Ahmed, BNP acting secretary general and adviser to the Prime Minister Advocate Ruhul Kabir Rizvi, National Parliament Chief Whip Nurul Islam Moni, Cabinet Secretary Nasimul Gani and the Prime Minister's Press Secretary Saleh Shibli.

Tarique Rahman visited Japan from October 26 to 29 at the invitation of Japanese Prime Minister Sanae Takaichi. During the visit he took part in high-level bilateral talks, met Japanese political leaders and business leaders, and visited several important industrial and energy installations.

At a bilateral summit held at the Japanese Prime Minister's office on October 27, the two leaders discussed strengthening cooperation in trade, investment, energy security, infrastructure, technology, space research and various regional and international issues.

The meeting also discussed a proposal for one trillion Japanese yen (about 6.3 billion US dollars) in private investment in Bangladesh's energy, infrastructure and information and communication technology (ICT) sectors. The two leaders also discussed sending a Japanese delegation to Bangladesh to speed up implementation of the investment plans.

Six bilateral memoranda were signed between Bangladesh and Japan during the visit. In addition, pledges were received for two yen-loan projects worth a total of 46.56 billion Japanese yen (about 295.5 million US dollars).

The agreements also include grant assistance of up to 2.12 billion Japanese yen (13.44 million US dollars) to procure a patrol vessel to strengthen Bangladesh's coastal security capability.

The two countries also signed memoranda on improving the business environment, agriculture, employment programmes through skills development, and cooperation in the fisheries and livestock sectors. A Letter of Intent on climate change cooperation was also signed. The two loan-assisted projects will support the improvement of Bangladesh's investment environment and the implementation of the second phase of the Upazila Governance and Development Project.

State Minister for Foreign Affairs Humayun Kabir said that beyond the government-level agreements, 17 memoranda of understanding were also signed between private-sector organisations at a programme organised by the Japan External Trade Organization (JETRO). On October 28, the Prime Minister addressed the 'Bangladesh-Japan Economic Forum Dialogue' at the JETRO headquarters in Tokyo.

At the forum, Prime Minister Tarique Rahman invited Japanese companies to invest in five priority sectors in Bangladesh — automobile manufacturing, energy, technology and space, high-speed rail and logistics, and agro-processing industries. He also pledged the necessary government support and reforms to improve the business environment.

During the visit, the Prime Minister met former Japanese Prime Minister Taro Aso, Japan International Cooperation Agency (JICA) President Dr Akihiko Tanaka, Japan Bank for International Cooperation (JBIC) Governor Kazuhiko Amakawa and JETRO President Susumu Kataoka. In meetings with representatives of major Japanese companies including apparel giant Uniqlo, Mitsui & Co., Sumitomo Corporation and JERA, he discussed opportunities for expanding investment, setting up factories, creating employment, technology transfer and skills development.

To see Japan's energy and logistics infrastructure first-hand, the Prime Minister on October 27 visited JERA's liquefied natural gas (LNG) terminal and power plant at Futtsu and the Nitsu logistics hub at Ichikawa. On Thursday he visited Nagoya, touring Toyota Motor Corporation's Motomachi plant and the Toyota Commemorative Museum of Industry and Technology to observe Japan's automobile manufacturing capability.

The Prime Minister's visit came at a time when Bangladesh and Japan have taken initiatives to expand their economic relationship further. The two countries' first Economic Partnership Agreement (EPA) will provide a new framework for strengthening trade and commercial relations. Japan has long been one of Bangladesh's principal development partners, providing support for major infrastructure projects such as the Dhaka Metro Rail, the third terminal of Hazrat Shahjalal International Airport and the Matarbari deep sea port.