Japan wants to invest in Bangladesh's mega projects: Tipu Munshi

Commerce Minister Tipu Munshi on Sunday said Japan wants to make investment in the mega projects of Bangladesh.
 
He also said Japan has expressed its keen interest in staying besides Bangladesh through enhancing trade and investment to materialise the dream of building a developed, prosperous and 'Smart Bangladesh' by 2041.
 
The commerce minister said this while briefing reporters after holding a meeting with Japan's Economy, Trade and Industry Minister Yasutoshi Nishimura, at a hotel in Dhaka.
 
Mentioning that Japan had long been a development partner of Bangladesh, Tipu said Japan has already made investments in mega projects in Bangladesh and would continue to do so in the future also.

Bangladesh needs to improve business environment to attract investment: Japanese minister

During the meeting, they also stressed exploring potential sectors of investment through increasing communication between the businesses of the two countries.
 
The commerce minister informed that work on signing an Economic Partnership Agreement (EPA) between the two countries is going on to take the Japan-Bangladesh trade relations to a new height.
 
He said the first round of negotiations had already been held in Japan while the 2nd round would be held in Dhaka on 25-26 July. "Both countries have agreed to sign this agreement very soon," he added.
 
Tipu said, through signing of the EPA, it would be possible to resolve the barriers and problems of investments by Japanese firms while the business environment would be improved further, resulting in increased industrial production as well as the attraction of investment.
 
He said they also discussed the continuation of duty-free and quota-free access to Bangladeshi products in the market in Japan beyond the LDC graduation in 2026.
 
The commerce minister said they discussed how to work together on various fronts over the next 50 years alongside boosting bilateral trade and commerce.
 
Answering a question, Tipu said the prices of those essential commodities witness an uptrend and downtrend in the local market which is very much related to the international market price. "This has impacted the price of edible oil, but the government has already reduced its price twice,"
 
Replying to another question, he said the government always takes action against unholy businesses while the Directorate of National Consumer Rights Protection (DNCRP) has been continuing its drives across the country to monitor the market. Besides, the government has also enacted necessary laws to bring to book the hoarders of consumer and essential items, he added.
 
Commerce Ministry Senior Secretary Tapan Kanti Ghosh and other high officials were present.
 
Earlier, the commerce minister spoke as the special guest at the inaugural summit on 'Bangladesh-Japan Economic Relations for The Next 50 Years: For the Industry Upgradation of Bangladesh' held at a city hotel.