Japan-Bangladesh economic dialogue

[Aepsilons]

The dialogue, which started in Dhaka on Friday, came within three months of embarking on a “new era of relationship” during Prime Minister Sheikh Hasina’s Tokyo visit in May.

Hasina and her counterpart Shinzo Abe launched a “comprehensive partnership” that paved the way for the economic dialogue bringing both public and private sectors together.

Senior Secretary of the Prime Minister’s Office Abul Kalam Azad who led Bangladesh’s 32-member delegation said the dialogue boosted bilateral relations.

Bangladesh’s apex business body FBCCI President Kazi Akram Uddin Ahmed who led the private sector said it would be “a milestone” of Dhaka-Tokyo ties.

“We fully support and endorse the issues which will be discussed in the dialogue,” he said before the talks started.

The visiting Japanese vice-minister for international affairs of the Ministry of Economy Norihiko Ishiguro led his country's 38-member delegation.

A joint statement after the meeting said both sides exchanged views on wide-ranging areas of mutual economic interest, including prevailing investment climate and regime, development of infrastructure and industrial base including development of Special Economic Zones.

They also discussed improvement of regulatory and administrative arrangements further to facilitate movement of investment, and issues related to increasing bilateral trade.

Japanese side stressed on the importance of developing the Special Economic Zones and related infrastructures in Bangladesh to attract greater investments from Japan.

They also urged Bangladesh to address “some of operational issues" flagged by the Japanese investors, including simplification of procedures related to certification, licensing approval, issuance of visa, work permit and related issues.

Japan, which established diplomatic ties with Bangladesh in February 1972, is the largest bilateral development partner of the country.

Its assistance comes regularly as grant, aid, technical assistance and soft loan. The total grants and aid touched $11 billion last year.

During Hasina’s visit, it promised $6 billion additional credit for different development projects.

In the last seven years the number of Japanese companies operating in Bangladesh has nearly tripled -- from 61 in 2007 to 176 in 2013.

As business becomes difficult in China due to rising costs and anti-Japanese hostility, Japanese businesses are looking alternatives in Asia and Bangladesh, India and other countries in South-east Asia are emerging as preferred investment destinations.

Bangladesh has much potential to attract investments from his country, Japanese envoy in Dhaka Shiro Shadoshima earlier said.

Japan also believes Bangladesh occupies a very strategic position along with Myanmar between the Pacific Ocean and Indian Ocean.

The economic dialogue held in “an atmosphere of cordiality, friendship and cooperation” at the Prime Minister’s office came just before the Japanese Prime Minister Abe’s visit on Sept 6 and 7.

Both sides stressed on deepening economic and commercial cooperation while discussing their overall economic situation, according to the statement.

They noted a number of ways and identified areas for “mutually beneficial opportunities” for private investments in Bangladesh.

They recognised areas like textiles, leather, pharmaceuticals, IT and ITES, tourism and hospitality and healthcare as possible sectors where both countries can enter into “cooperative undertakings” in the future.

Both sides also discussed about various incentives with a view to improving overall investment climate and to enhance trade relations.

They expressed optimism that the dialogue could provide “a window for interaction and actions” between the governmental actors and private sector of both countries “on many areas that are not yet explored”.

Both sides maintained that the dialogue could contribute to “charting avenues for robust engagement”.

They concluded that “engagements should be based and advanced on the basis of mutual trust, respect and interest and equitable sharing of benefits” as they hoped to meet again next year in Japan.


Japan-Bangladesh economic dialogue -
bdnews24.com

 

[kalu_miah]

The dialogue, which started in Dhaka on Friday, came within three months of embarking on a “new era of relationship” during Prime Minister Sheikh Hasina’s Tokyo visit in May.

Hasina and her counterpart Shinzo Abe launched a “comprehensive partnership” that paved the way for the economic dialogue bringing both public and private sectors together.

Senior Secretary of the Prime Minister’s Office Abul Kalam Azad who led Bangladesh’s 32-member delegation said the dialogue boosted bilateral relations.

Bangladesh’s apex business body FBCCI President Kazi Akram Uddin Ahmed who led the private sector said it would be “a milestone” of Dhaka-Tokyo ties.

“We fully support and endorse the issues which will be discussed in the dialogue,” he said before the talks started.

The visiting Japanese vice-minister for international affairs of the Ministry of Economy Norihiko Ishiguro led his country's 38-member delegation.

A joint statement after the meeting said both sides exchanged views on wide-ranging areas of mutual economic interest, including prevailing investment climate and regime, development of infrastructure and industrial base including development of Special Economic Zones.

They also discussed improvement of regulatory and administrative arrangements further to facilitate movement of investment, and issues related to increasing bilateral trade.

Japanese side stressed on the importance of developing the Special Economic Zones and related infrastructures in Bangladesh to attract greater investments from Japan.

They also urged Bangladesh to address “some of operational issues" flagged by the Japanese investors, including simplification of procedures related to certification, licensing approval, issuance of visa, work permit and related issues.

Japan, which established diplomatic ties with Bangladesh in February 1972, is the largest bilateral development partner of the country.

Its assistance comes regularly as grant, aid, technical assistance and soft loan. The total grants and aid touched $11 billion last year.

During Hasina’s visit, it promised $6 billion additional credit for different development projects.

In the last seven years the number of Japanese companies operating in Bangladesh has nearly tripled -- from 61 in 2007 to 176 in 2013.

As business becomes difficult in China due to rising costs and anti-Japanese hostility, Japanese businesses are looking alternatives in Asia and Bangladesh, India and other countries in South-east Asia are emerging as preferred investment destinations.

Bangladesh has much potential to attract investments from his country, Japanese envoy in Dhaka Shiro Shadoshima earlier said.

Japan also believes Bangladesh occupies a very strategic position along with Myanmar between the Pacific Ocean and Indian Ocean.

The economic dialogue held in “an atmosphere of cordiality, friendship and cooperation” at the Prime Minister’s office came just before the Japanese Prime Minister Abe’s visit on Sept 6 and 7.

Both sides stressed on deepening economic and commercial cooperation while discussing their overall economic situation, according to the statement.

They noted a number of ways and identified areas for “mutually beneficial opportunities” for private investments in Bangladesh.

They recognised areas like textiles, leather, pharmaceuticals, IT and ITES, tourism and hospitality and healthcare as possible sectors where both countries can enter into “cooperative undertakings” in the future.

Both sides also discussed about various incentives with a view to improving overall investment climate and to enhance trade relations.

They expressed optimism that the dialogue could provide “a window for interaction and actions” between the governmental actors and private sector of both countries “on many areas that are not yet explored”.

Both sides maintained that the dialogue could contribute to “charting avenues for robust engagement”.

They concluded that “engagements should be based and advanced on the basis of mutual trust, respect and interest and equitable sharing of benefits” as they hoped to meet again next year in Japan.


Japan-Bangladesh economic dialogue -
bdnews24.com

Japan has been a trusted partner for Bangladesh and the rest of the Muslim world. I personally would like to see Japan going ahead with:
- ASEAN+2 military and economic alliance
- help and support D-8 nations with creating D-8 economic alliance:
Developing 8 (D-8) Organization for Economic Cooperation

Muslim world as it unites slowly in the years and decades ahead will stand by the side of all East Asian powers who come forward and help us with this unification effort.

 

[Aepsilons]

Japan has been a trusted partner for Bangladesh and the rest of the Muslim world. I personally would like to see Japan going ahead with:
- ASEAN+2 military and economic alliance
- help and support D-8 nations with creating D-8 economic alliance:
Developing 8 (D-8) Organization for Economic Cooperation

Muslim world as it unites slowly in the years and decades ahead will stand by the side of all East Asian powers who come forward and help us with this unification effort.

I would like to say that the relationship Japan has with Bangladesh is not only vibrant, but time tested. Here is to a greater strategic relationship between our two nations.

 

[eastwatch]

I would like to say that the relationship Japan has with Bangladesh is not only vibrant, but time tested. Here is to a greater strategic relationship between our two nations.

I am asking you one question about Japan's investment policy of "China+1." Do you think our country has finally become that another country that the Japanese have decided to invest in a big way? To me a large investment in a 10,000 mW power plant points to that direction. Japan knows very well that without a sufficient production of electricity, a huge number of industries cannot be operated.

I would like to speak about a statement made in Tokyo by a former Japanese Ambassador to Dhaka in a Seminar arranged by the Bangladeshis there. He said Pakistani diplomats show a kind of racial arrogance while they talk with the Japanese high officials. He also said the Indian diplomats have a similar trait because India is a big country well known all over the world.

But, Bangladesh diplomats in Dhaka are quite different from their cousins in the west. They do not brag, and are quite polite and attentive to the Japanese delegates. I wonder if Japan has finally concluded, specially after the recent India visit by PM Abe, that BD is a better destination for Japanese attention and investment rather than Pakistan, India and even Burma.

 

[Aepsilons]

I am asking you one question about Japan's investment policy of "China+1." Do you think our country has finally become that another country that the Japanese have decided to invest in a big way? To me a large investment in a 10,000 mW power plant points to that direction. Japan knows very well that without a sufficient production of electricity, a huge number of industries cannot be operated.

@eastwatch

Definitely the answer is a resounding 'Yes'.

Now under the China +1 policy, the Japanese investors are looking for new destinations for relocation of their investment and Bangladesh in the South Asian region sits at the center of their interest.Arrival of Japanese investors may bring a leap forward for Bangladesh to integrate into the supply chain of Asia-Pacific region and the government is bent on using the opportunity.

You might want to check this article as well:
Japan's renewed focus on four industrial zones | TRADE & MARKET | Financial Express :: Financial Newspaper of Bangladesh

I would like to speak about a statement made in Tokyo by a former Japanese Ambassador to Dhaka in a Seminar arranged by the Bangladeshis there. He said Pakistani diplomats show a kind of racial arrogance while they talk with the Japanese high officials. He also said the Indian diplomats have a similar trait because India is a big country well known all over the world.

@eastwatch

Considering the new initiative in Japan to reach out to South Asia, which I believe is rightly so and is so long overdue, it is important for Japan to develop stronger , comprehensive ties with key powers in South Asia. Pakistan, India, Bangladesh, Sri Lanka are all included in this equation. Japanese delegation know very well of the sensitivities in South Asia, given the historical premise, and thus our strategy in courting and opening with these countries is not in anyway trying to create unease between one country with the other. Given Japan has an 'All Inclusive' policy with South Asia, it is so important for our diplomats, and delegates of the Keidanren to show no partiality. To answer your question, it is unfortunate that there are some minority cases of impolite manners by some people, but these do not represent the continuity of the country whom they hail from.

Let me go into detail on some of the issues that Japan would like to address regarding the nations in South Asia. Here is my own analysis:


Pakistan

• Strengths:

1. Large skilled work force
2. A very cooperative and "Time Tested" Strategic Friendship between Japan and Pakistan (Since 1947)
3. Has the 2nd largest gas infrastructure in the world -- provides the framework for wider infrastructure development, industrial capacity
4. Work class education institutions in the region , eg, Aga Khan University, Lahore University of Management Sciences, National University of Science and Technology et al
5. Growing telecom industry
6. Very good road net work

• Weaknesses:

1. Security issue in the Northwest Region -- this is a major issue for FDIs.

India

• Strengths

1. Large skilled work force
2. Close partnership ties with Japan ; long history of infrastructure projects
3. Large infrastructure projects
   
4. Developed ports

• Weaknesses:

1. "regulatory uncertainty" should be reduced to promote more private sector investment.
2. "Reforms to further promote the development of a dynamic and efficient financial sector are needed to support investment and growth,"
3. The country should further ease FDI restrictions in aviation, multi-brand retail and other sectors
4. Tax regime in regards to Foreign Companies -- this needs to be resolved, else it will delay FDIs / Foreign offshoring to India, or worse, could lead to these companies to select other countries per se, Bangladesh, Sri Lanka, Pakistan.

Bangladesh

• Strengths:

1. Large skilled work force
2. Close strategic partnership with Japan since 1972
3. Lack of FDI restrictions
4. Natural resources are plentiful

• Weaknesses

1. Energy grid situation needs improvement

@Nihonjin1051 's Comprehensive Meta-Analysis

As we can see there are many opportunities (i like to use the word 'opportunity' rather than 'challenges' because these barriers to a nation allow a nation to develop strategies to address these threats and to implement procedures and policies to remedy it-- and in a holistic vantage point , will benefit the nation in the long run) for each of the major powers in South Asia. This century is an 'Asian Century' because we are expected to see the further rise and development of Asia. China, for example, is expected to become a major consumer player, and as its cost of living increases, the FDIs and foreign offshore manufacturing plants located in China will eventually migrate to developing countries that have a wider set of opportunities. South Asia as well as South East Asia are the next 'Asian Tigers'. As Foreign Investments pour into South Asia, this will drive governments to tackle security issues, energy demand issues, as well as tax regimes that will encourage a 'hospitable' environment for businesses. In my opinion, Bangladesh, India and Pakistan are going to be the target of not only Japanese, but other foreign investors. Bangladesh, in my opinion, has a favorable advantage because of the fact that her population is not as large as India and thus the time it will take to develop and increase the standard of living / and gdp per capita won't be as long as India. Bangladesh also does not have the security issues that Pakistan is plagued with, given there are security concerns with Burma , but diplomatic play can easily turn the most annoying neighbor into a compliant partner. In regards to Japanese and Bangladeshi partnership, it is a Win-Win Relationship. Inshallah.



Sincerely Yours,
I Remain,
@Nihonjin1051

 

[eastwatch]

@Nihonjin1051,

Thanks a lot for the well thought out input in your last post. I very much appreciate the way you have spent time and energy to educate us all about how the Japanese think about the investment opportunities in my country as well as our neighbors. Thanks indeed.

 

[Aepsilons]

@Nihonjin1051,

Thanks a lot for the well thought out input in your last post. I very much appreciate the way you have spent time and energy to educate us all about how the Japanese think about the investment opportunities in my country as well as our neighbors. Thanks indeed.

You're very welcome @eastwatch . It is my pleasure, and Thanks for tutoring me about some Bangladeshi words in the other thread. Always great to learn new things.