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Abe\\\'s BD visit a strategic boost for Japan: Nikkei Asian Review

Thursday, 4 September 2014


Japanese Prime Minister (PM) Shinzo Abe's forthcoming visits to Bangladesh will strengthen security and economic ties with Bangladesh and position his country as a major player in Asia, says a Tokyo-based business review, reports bdnews24.com.
The Bangladesh foreign ministry earlier said Mr Abe would arrive in Dhaka on September 6 on a 24-hour visit.
Nikkei Asian Review, an English language business journal of one of the largest Japanese media corporations Nikkei Inc, said he would go to Sri Lanka from Bangladesh.
It said executives from about 40 companies with diverse product range from such as trading and construction, will accompany Mr Abe on the September 6-8 trip.
This will mark the first visit by a Japanese prime minister to Bangladesh in 14 years.
Following on the high octane Tokyo visit of the Indian Prime Minister Narendra Modi, Mr Abe seems to be following up on his South Asian overdrive to place Japan in one of the world's promising emerging markets and investment destination.
Japan's Chief Cabinet Secretary Yoshihide Suga announced the itinerary on Monday after the Bangladesh's foreign ministry had already done it.
Mr Abe and his Bangladesh counterpart Sheikh Hasina will discuss Japanese assistance for the construction of an industrial zone along the Bay of Bengal, as well as for other public infrastructure as power grids and roads.
Japan plans to provide some 600 billion yen (US$5.71 billion) in official development assistance to Bangladesh over the next four to five years, starting in fiscal 2015.
Nikkei Asian Review writes with a population of more than 150 million and its gross domestic product (GDP) growing at a 6.0 per cent-plus annual clip, Bangladesh is an attractive potential market for Japanese companies.
Earlier in a report it said Japan was aiming to deepen its relationship with Bangladesh ahead of China.
Bangladesh's foreign ministry said his visit is an indication of Tokyo's "very keen" interest in expanding and deepening "comprehensive partnership" in all spheres.
Mr Abe will also address the Bangladesh-Japan Economic Forum, formed after Sheikh Hasina's Japan visit in May.
The foreign ministry said the Bangladesh Board of Investment (BoI), Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), and Japan External Trade Organisation (JETRO) would jointly organise the session to promote bilateral trade and attract Japanese investment in Bangladesh.
Both sides had embarked on "a new era of relationship" during Sheikh Hasina's visit when Mr Abe confirmed he would come to Dhaka shortly.
Japan established its diplomatic ties in February 1972, soon after Bangladesh's independence, and quickly became the country's largest bilateral development partner.
Its assistance comes regularly as grant, aid, technical assistance, and soft loans. The total grants and aid reached $11 billion last year.