Bangladesh and Japan are set to explore fresh investment opportunities, energy cooperation and business partnerships during Prime Minister Tarique Rahman’s four-day visit to Tokyo from 26 October, with the two countries expected to sign several memorandums of understanding (MoUs) and issue a joint statement outlining future cooperation.
The proposed agreements are expected to cover agriculture, fisheries, human resource development, skills training, civil aviation, trade, environmental conservation and the modernisation of local government institutions.
Preparations are under way for around eight cooperation documents, although the final number to be signed will depend on the outcome of negotiations between the two sides.
“We hope that many of these MoUs will be signed during the visit,”
Foreign Secretary Asad Alam Siam said.
The prime minister will visit Japan from 26 to 29 October at the invitation of his Japanese counterpart, Sanae Takaichi. The anticipated joint statement will outline the outcomes of their bilateral talks and priorities for advancing the Bangladesh-Japan strategic partnership.
The visit will also provide an opportunity to advance implementation of the Economic Partnership Agreement (EPA), signed on 6 February this year, and address practical barriers to expanding trade and investment.
Siam said discussions would focus on implementing the agreement, improving access for Bangladeshi products to the Japanese market and strengthening business engagement.
Former Dhaka University Vice-Chancellor Professor Dr Anwarullah Chowdhury said the proposed agreements could deepen bilateral relations by linking Bangladesh’s development priorities with Japan’s industrial experience, technology and institutional expertise.
“Prime Minister Tarique Rahman’s visit offers an important opportunity to give fresh momentum to our longstanding partnership with Japan.
The proposed MoUs can create a stronger basis for cooperation in sectors closely linked to production, employment and people’s livelihoods,” he said.
He said cooperation in agriculture and fisheries should prioritise productivity, processing, preservation and quality management, while skills development programmes should be aligned with employers’ needs.
“Language teaching and technical training should advance together. Our objective should be to prepare workers for better employment opportunities while also developing the skilled workforce needed by industries in Bangladesh,” he said.
Chowdhury also stressed the importance of involving local businesses in Japanese investment initiatives so that domestic suppliers and smaller enterprises could benefit.
“Alongside large investments, we should encourage partnerships between Japanese medium-sized companies and Bangladeshi entrepreneurs.
Such cooperation can help our businesses improve production methods, quality control and management,” he said.
Investment and infrastructure financing
Infrastructure financing is expected to feature prominently in the discussions, particularly following an 83 per cent increase in the cost of Dhaka’s MRT Line-1 and a 113 per cent rise in that of MRT Line-5.
Asked whether the cost increases and lower interest rates on Japanese loans would be discussed, Siam said Bangladesh had sought financing and technical assistance for infrastructure development.
“These infrastructure cooperation issues will certainly come up during the bilateral meeting between the two prime ministers,” he said, adding that the discussions would extend beyond metro rail projects.
“We want to obtain loans at lower interest rates from all countries,” he added, noting that global financing arrangements and country-specific factors would influence the outcome.
Japan is already supporting major infrastructure projects in Bangladesh, including metro rail, the Third Terminal of Hazrat Shahjalal International Airport and infrastructure development in Matarbari.
The Bay of Bengal Industrial Growth Belt (BIG-B) initiative, launched in 2014, provides a framework for linking infrastructure development with industrial expansion and regional connectivity.
Chowdhury said Matarbari and Araihazar offered opportunities to connect infrastructure investment with industrial production, domestic suppliers and employment generation.
“Prepared land, reliable electricity and water, transport connections and predictable approval procedures will help turn investor interest into operating businesses,” he said.
He also called for a clear implementation plan following the visit, with designated agencies, deadlines and arrangements to review progress.
“Signing an MoU is an important beginning. Its lasting value will depend on the investment, jobs, skills and institutional capabilities that follow,” he said.
Business and energy cooperation
Under the announced programme, Tarique Rahman will hold high-level bilateral talks with Takaichi at her office on 27 October.
The two leaders will head their respective delegations, and the Japanese prime minister will host a luncheon in honour of her Bangladeshi counterpart.
Tarique is scheduled to deliver the keynote address at the Japan-Bangladesh Economic Forum and meet Japanese business leaders to discuss investment prospects and commercial partnerships.
His tentative programme also includes meetings with the Japan-Bangladesh Parliamentary Friendship League and the chairman of the Japan-Bangladesh Committee for Commercial and Economic Cooperation.
Meetings are being planned with the president of the Japan International Cooperation Agency (JICA), the governor of the Japan Bank for International Cooperation (JBIC) and the president of the Japan External Trade Organization (JETRO).
An engagement with the chairman of the Sasakawa Peace Foundation is also under consideration.
The proposed itinerary includes visits to an LNG terminal and power plant in Chiba and a Toyota factory in Nagoya, providing opportunities to examine Japanese experience in energy infrastructure and advanced manufacturing.
Siam said renewable energy, science and technology, digital transformation and human resource development would also feature in the discussions.
Beyond bilateral economic matters, the two countries are expected to discuss regional and international peace and stability, cooperation in addressing the energy crisis and a sustainable, peaceful solution to the Rohingya crisis.
The prime minister will be accompanied by his spouse, Dr Zubaida Rahman, ministers, advisers, senior officials and other delegation members. The delegation will travel on Biman Bangladesh Airlines flights.
The visit is expected to build on longstanding bilateral ties, with its success depending on how effectively the proposed agreements translate into investment, expanded trade, energy cooperation, employment and stronger industrial capabilities in Bangladesh.