FBCCI invites Japan to build auto factories
Japanese investment sought at a meeting with a Japanese delegation
The Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) has urged Japanese investors to set up and automobile industry in Bangladesh to sell vehicles at affordable prices and make the most of the huge demand here, ultimately benefiting both sides.
FBCCI would cooperate closely with the Japanese side in this regard, said FBCCI President Md Jashim Uddin during a meeting with Japan External Trade Organization (JETRO) officials on Monday at the trade body's office in Motijheel in the capital.
Jashim told Jetro officials that Bangladeshi people love Japan and that there is a huge demand here for Japanese products, especially automobiles. One can see various types of Japanese cars almost on every road and streets in Bangladesh. Setting up vehicle factories here can be beneficial for both countries as the price of Japanese products will be relatively low allowing Japanese businesses to exploit the vast business potential in Bangladesh.
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The FBCCI president said, "Bangladesh has huge potential. We are now on our way to a trillion-dollar economy. In order to achieve this target, the country is going through policy and strategic transformation. The government and the private sector are working together to improve trade and business conditions."
Jashim also informed the Japanese delegation about the Bangladesh Business Summit which is going to be organised in March this year on the occasion of the 50th founding anniversary of the FBCCI.
He mentioned that the FBCCI is expecting active participation from the Japanese side.
The FBCCI chief also said, "Bangladeshi entrepreneurs are interested in expanding trade ties with Japan. They have emphasised setting up eco–friendly and compliance industries. Technology transfer between the countries is essential to ensure sustainable industrialisation."
Jetro President Kazushige Nobutani congratulated the FBCCI on its 50 years of establishment. He also wished for the grand success of the Bangladesh Business Summit.
"Both Japan and Bangladesh have been working closely for a long time. The trade relations between the two countries will be accelerated through business-friendly policies and strategies," he noted.
FBCCI Vice President Md Amin Helaly, Secretary General Mohammad Mahfuzul Hoque, Director General of Jetro Satoshi Kubota, and other members of the delegation were also present at the meeting.
