Strengthening the trade relationship between Japan and Bangladesh is vital for the economic progress of Bangladesh, as highlighted by Mahbubur Rahman, the secretary of the Ministry of Commerce, during a recent event. The occasion, named “Japan–Bangladesh Business Connections: Legacy and the Future,” was organized by HSBC Bangladesh at The Westin Dhaka. Rahman commended HSBC for their efforts in enhancing the partnership.
The event commemorated the enduring bond between Japan and Bangladesh, underlining the increasing business interactions between the two nations. Japan has been a significant development ally of Bangladesh for over 50 years, extending more than $32 billion in official development assistance (ODA) since the country gained independence. This support covers various sectors like infrastructure, energy, transportation, agriculture, healthcare, education, and human resource development.
Several noteworthy projects are currently underway, including the Matarbari Deep-Sea Port and Power Plant, the Dhaka Mass Rapid Transit Development Project, the Jamuna Railway Bridge, and the expansion of Hazrat Shahjalal International Airport. With over 350 Japanese companies operating in Bangladesh and bilateral trade nearing $3.8 billion, the economic ties between the two countries are deepening.
The event brought together esteemed representatives from Japanese and Bangladeshi businesses, policymakers, and industry leaders. Nahian Rahman Rochi, the head of business development at the Bangladesh Investment Development Authority (Bida), shared insights on Bangladesh’s Investment Climate and proposed initiatives to streamline the investment environment to attract global investors.
Karasawa Shinju, the first secretary and head of economic cooperation at the Embassy of Japan in Bangladesh, expressed Japan’s commitment to Bangladesh’s development journey through longstanding partnerships. He also emphasized the potential for future collaborations in areas such as digital transformation, green energy, logistics, and innovation-driven industries.
Hirotaka Shibata, the director of corporate and institutional banking at HSBC Japan, reiterated HSBC’s dedication to facilitating connections between Japanese and Bangladeshi enterprises. Shadab Hossain, the head of global network banking at HSBC Bangladesh, was also in attendance.