FM seeks $100m from Japan for shipbreaking industry

Foreign minister Hasan Mahmud today (15 May) sought $100 million assistance from Japan for making Bangladesh's shipbreaking industry safe and sustainable.

"I requested Japan to help us with 100 million US dollars for developing the shipbreaking sector which is one of the biggest in the world," he told reporters after holding a meeting with visiting Japanese Parliamentary Vice Minister for Foreign Affairs Hosaka Yasushi at the foreign ministry. 

Currently, the foreign minister said Bangladesh breaks 8,000 scrapped ships annually while neighboring India breaks 10,000 per year. 

"They (Japan) had helped India to improve their ship breaking industry . . . so in line with that I also sought their help in this regard," he said. 

During the meeting, Hasan also sought continuation of Japanese support, long-term plan for development of Southern Chattogram under the BIG-B initiative to enhance connectivity in the region and beyond.

He also emphasized on more Japanese investments in Bangladesh, particularly in the Special Economic Zones in Araihazar and Bangabandhu Sheikh Mujib Shilpa Nagar at Mirsarai in Chattogram. 

The foreign minister thanked Japan for sending the Trade Negotiating Team for EPA which will visit Dhaka from May 19-23, 2024 for the 1st round of Japan-Bangladesh Economic Partnership Agreement (EPA) Negotiations.

He apprised the Japanese vice minister that Prime Minister Sheikh Hasina's government would like to strengthen the existing strategic partnership between Bangladesh and Japan to further height and engagements. 

Hasan expressed satisfaction at the good progress of JICA-assisted mega-infrastructure projects, including Matarbari deep seaport, Matarbari Coal Fired Power Plant, Dhaka Metro Rail. 

He thanked Japan for the continued efforts towards a durable solution for the safe, sustainable and dignified return of the forcibly displaced Myanmar nationals Rohingyas to the Rakhine State for peace, stability, and security in the region. 

The foreign minister expressed hope that an Economic Partnership Agreement (EPA) would be concluded to get Japanese financial concessions by 2026 when Bangladesh will be graduated from LDC status. 

Both the Vice Minister and foreign minister expressed satisfaction at the close cooperation between Bangladesh and Japan in different multilateral fora and hoped that both countries will continue close cooperation for international peace and security, and sustainable development.

The foreign minister thanked the Vice Minister for representing the government of Japan in the ICPD30 Global Dialogue in Dhaka.