Push for accelerating BD-Japan strategic partnership

Standard Chartered, Japan-Bangladesh Chamber of Commerce & Industry (JBCCI), Japanese Commerce and Industry Association in Dhaka (JCIAD, Shoo-Koo-Kai), and the Japan External Trade Organisation (JETRO) recently organised a panel discussion on the topic 'Our shared aspiration: Accelerating the Japan-Bangladesh strategic partnership' recently, says a press release.
The event brought senior stakeholders from the private sector, chambers of commerce, think tanks, and government together to discuss and contribute to a shared roadmap focused on accelerating the transition of Japan-Bangladesh bilateral ties from a comprehensive to a strategic partnership.
Building a strategic partnership between Bangladesh and Japan leverages the decades-long friendship between the two nations in an effort to deepen economic cooperation and fuel growth.
The event placed an emphasis on driving collaboration across the board to facilitate the development and progress of infrastructure, trade, investment flows, and sustainable finance.
As one of the largest foreign investors in Bangladesh, Standard Chartered has been playing a leading role in attracting and facilitating foreign trade and investment.
Speaking at the event, Naser Ezaz Bijoy, chief executive officer, Standard Chartered Bangladesh, said, "The three strategic areas that are key for Bangladesh's continued prosperity are the digital economy, agrobusiness, and sustainable finance - each of these areas, Japan can contribute significantly."
Yusuke Asai, chief executive officer, Standard Chartered Japan, said, "Japanese companies will keep aiding Bangladesh with investments in infrastructure and renewable energy going forward, to catalyse the growth of Bangladesh's economy and business relationship between the two countries."
Iwama Kiminori, ambassador Extraordinary and Plenipotentiary of Japan to Bangladesh, remarked, "Last year, Japan and Bangladesh celebrated the 50th anniversary of the establishment of the Japan-Bangladesh relationship. This transition marks the beginning of the new era in our relations. Both leaders from Japan and Bangladesh share their determination to enhance cooperation -specifically, in three major areas. There are three pillars are: one, cooperation for peace and stability in the region and beyond."
Myung-Ho Lee, president, Japan-Bangladesh Chamber of Commerce & Industry (JBCCI); and country representative for Bangladesh, Mitsubishi Corporation, said, "Economic Partnership Agreements (EPA) between Japan and Bangladesh should be in effect before the LDC graduation in 2026. For that, EPA negotiation must start early. EPA will help grow the investment between both countries, not just trade. More investment from Japan will lead to more local employment and more commercial activities in Bangladesh."
Yuji Ando, country representative, Japan External Trade Organization (JETRO) Bangladesh, said, "Regarding enhancing the investment environment, JETRO conducted a survey among Japanese companies operating in Asia and ASEAN countries ,including Bangladesh. There will always be areas for improvement - for example simplifying Letter of Credit processes in line with global convention. I hope for changes in these areas to improve the investment environment further. Banks such as Standard Chartered, with their global know-how and strong local presence, have an important role to play in this."
In his keynote presentation, Dr M Masrur Reaz, chairman and founder, Policy Exchange Bangladesh, said, "There has been a paradigm shift in Japan-Bangladesh relations over the last eight years, with the theme going from development aid to trade, investment, and growth supportive infrastructure. Elevation to strategic partnership, the Bay of Bengal Industrial Growth Belt (Big-B) initiative, prospects of regional integration, and the Asia Energy Transition initiative will shape of the next phase of collaboration, with Bangladesh's social and economic developments places the nation as one of Japan's next growth partners."
Enamul Huque, managing director and head of Corporate, Commercial and Institutional Banking (CCIB) Client Coverage, Standard Chartered Bangladesh, commented, "We have gathered to celebrate the strong ties between Bangladesh and Japan, and to highlight Bangladesh's potential as a key investment and trade destination for Japanese businesses. We look forward to working with all those present and the wider community towards achieving our shared aspiration of accelerating the Japan-Bangladesh Strategic Partnership."