Japan aiming to deepen relations with BD

Japan is aiming to deepen its relationship with Bangladesh, a Tokyo-based Asian business review has reported. It published the report ahead of Prime Minister Shinzo Abe’s first visit to Bangladesh, the South Asian developing country aiming to become a middle income state by 2021. Nikkei Asian Review, an English language business journal of one of the largest Japanese media corporations Nikkei Inc, has said Japan will help Bangladesh build an industrial base that includes scores of infrastructure projects. It said Prime Minister Abe will discuss those plans with Bangladesh Prime Minister Sheikh Hasina during his Dhaka visit on September 6. His sojourn will follow Hasina’s May visit when he pledged 600 billion Yen – $5.7b – in official development assistance over the next 4 to 5 years. The Asian Review gave details of the upcoming Japanese projects, most of which had already been discussed. It said Japan will support the creation of an industrial area in Bangladesh near the Bay of Bengal. It will focus on the region linking Dhaka city with Matarbari near the port city of Chittagong, featuring a series of infrastructure projects and a special economic zone for Japanese companies. Plans to set up the special economic zone in Dhaka district will be solidified as early as this fiscal year, it said. The Japanese government is expected to provide some 40b Yen in support. ‘If Japan's official development assistance to Bangladesh is ramped up, it could become a major aid recipient in line with Vietnam, which has received more than 100b Yen a year, and Myanmar, which is expected to get around 100b Yen.’ The number of Japanese companies operating in Bangladesh has doubled over the past 5 years to around 180 in April, according to a news agency.