METI Minister Nishimura Visits Dhaka, Bangladesh

1. Delivering a speech at the “Summit on Bangladesh-Japan Economic Relations for the Next 50 Years”

Minister Nishimura participated in the Summit on Bangladesh-Japan Economic Relations for the Next 50 Years, which was co-organized by the Japan External Trade Organization (JETRO), the Bangladesh Investment Development Authority (BIDA), the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), and other organizations, commemorating the 50th anniversary in 2022 since the establishment of diplomatic relations between Japan and Bangladesh. He stated the importance of promoting three pillars, namely [i] upgrading of the Bangladesh industry, [ii] Japanese companies’ shift of their production to Bangladesh, and [iii] realistic energy transition, and he explained the future direction in which Japan and Bangladesh would advance the co-creation of economic ties in a more sophisticated and equal manner.

At a business summit, the Japan External Trade Organization (JETRO) and the Ministry of Commerce of Bangladesh exchanged a memorandum of cooperation (MOU) the “Program for the Enhancement of Bangladesh’s Capacity for Developing Trade Policies.” Moreover, an operator of the Bangladesh Special Economic Zone (BSEZ), the public-private collaborative project undertaken by Japan and Bangladesh, and two Japanese companies that are developing business in Bangladesh (i.e., Bangladesh IRIS Co., Ltd. and BRAC Kumon Limited) exchanged a MOU. These organizations exchanged views toward cooperation in the fields of manufacturing, IT/startups, and energy.

2. Bilateral meeting with Minister Humayun

The two sides held discussions on Japanese companies’ contributions to upgrading Bangladesh industry and confirmed the need for further improvement of the business environment to encourage Japanese companies to further expand their investments.

3. Bilateral meeting with Minister Munshi

In view of Bangladesh’s graduation from Least Developed Country (LDC) status, the two sides confirmed that Japan and Bangladesh would steadily make progress in the “Joint Study Group on the Possibility of a Japan-Bangladesh Economic Partnership Agreement (EPA).” They also held discussions to enhance bilateral cooperation from the aspects of industry and trade through the “Bangladesh-Japan Industry Upgradation Partnership (BJIUP)” and the JETRO Program for the Enhancement of Bangladesh’s Capacity for Developing Trade Policies.

4. Bilateral meeting with Minister Palak

The two sides held discussions on policy cooperation to further advance certain efforts, including Japanese companies' utilization of Bangladesh's abundant, highly-skilled human resources in the field of IT, startups’ overseas business expansion and collaboration between Japan and Bangladesh, and investments in the field of ICT in Bangladesh.

The Ministry of Economy, Trade and Industry (METI) will organize a job fair in September and October 2023 both online and in person (Dhaka) as the first occasion in Bangladesh to match local highly-skilled human resources and Japanese companies.

5. Bilateral meeting with H.E. Mr. Shahriar Alam, State Minister for Foreign Affairs

Aiming to achieve the further enhancement of Japan-Bangladesh economic ties under the “Strategic Partnership” and the “Free and Open Indo-Pacific (FOIP),” which were upgraded at the summit meeting held in April 2023, the two sides confirmed the policy that Japan and Bangladesh would steadily advance the Joint Study Group on the Possibility of a Japan-Bangladesh Economic Partnership Agreement (EPA) and the efforts for improving the business environment, and that they would also promote investments and trade and advance cooperation in a variety of fields, including IT and infrastructure. After the bilateral meeting, State Minister Alam organized a welcome lunch party for Minister Nishimura, bringing together members of the parliament of Bangladesh and governmental organizations in Japan and Bangladesh (embassies, JETRO, JICA, etc.).

6. Visiting Dhaka Metro Rail and Dhaka Airport Third Terminal

With State Minister Alam, Minister Nishimura boarded a Dhaka Metro Rail car, which is a railway that was developed utilizing Japan’s ODA program and Japanese companies’ technological knowhow and having partially started operation in December 2022 under public-private collaboration between Japan and Bangladesh. He also offered flowers and condolences at the memorial to the victims of the 2016 terrorist attack in Dhaka. In addition, he toured the Third Terminal of Dhaka Airport, which is under construction and set to open in April 2024, also constructed utilizing Japan’s ODA program.

7. Visiting BJIT Inc.

BJIT Inc. is a Japanese company that utilizes Bangladesh's highly-skilled human resources in the field of IT, conducting IT offshore development targeting leading companies in Japan and around the world while also striving to foster human resources in the field of IT for Japanese companies. Minister Nishimura visited BJIT Inc. and toured the offices where such IT development and human resource fostering takes place.

Division in Charge

Southwest Asia Office, Trade Policy Bureau