ent (BOI) and Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) and Japan external Trade Organisation at a city hotel Saturday. The Japanese premier said Japanese entrepreneurs are keen to invest in Bangladesh’s energy, power, transport, infrastructure, water-resources and garments sectors. “Bangladesh is an emerging economy. So, my government plans to promote Japanese investment here,” Abe said adding, “Bangladesh is also an important partner for Japan in South Asia.” Senior ministers, policy-makers, regulators and business luminaries of both the countries were present at the dialogue. The Japanese Prime Minister arrived in Dhaka at 1:00 pm (local time) and paid tribute to the martyrs at National Martyrs’ Memorial in Savar, visited Bangabandhu Museum before he appeared at the economic dialogue at 3:00 pm (local time) and then he moved to Prime Ministers’ Office at Old Airport Road for taking part in an official dialogue with Prime Minister Sheikh Hasina. On his arrival, his counterpart Sheikh Hasina accorded him a red-carpet reception at Hazrat Shahjalal International Airport in the capital. The Japanese PM said, “We can grow…like…brothers and sisters.” Abe, in his course of speech, termed the Bay of Bengal Industrial Growth Belt (BIG-B) initiative, which was first outlined during Sheikh Hasina’s visit to Japan in May this year, as the “centerpiece” of Japanese cooperation in Bangladesh. The major focuses of BIG-B are to enhancing trade, commerce and investment opportunities between Japan and Bangladesh. Policy-makers and businesses of both the countries are trying to find ways for it. According to the previously announced official outline, Bangladesh was branded as the linchpin of the Indo-Pacific region. It stands to gain a great deal from the shift in global economic dynamism toward the Indian Ocean. Indeed, the BIG-B seeks to take full advantage of this trend. It foresees Bangladesh transcending its national borders to become a “node & hub” of the regional economy, so that she may reshape herself as a sparkling trading nation deeply incorporated into inter-regional and global value chain networks. This transformation is imperative if its national target of becoming a middle-income country by 2021 and a developed country by 2041 is to be achieved. The main agenda suggested by BIG-B is Bangladesh must adopt “look east” strategy for reaping out trade benefit timely and appropriately. The first pillar of BIG-B is industry and trade. This pillar mainly consists of constructing a long-awaited deep sea port at the Matarbari Island. This will offer Bangladesh an important trade gateway to the rest of Asia and beyond. The second pillar is energy. Matarbari Island can be developed into a massive supply base of primary energy (such as coal, LNG, and oil). The electricity produced from those sources can support a quantum leap in industry and trade, not only within the area covered by BIG-B but also all over Bangladesh. Recognizing the promise this holds, the Power Division and the Bangladesh Power Development Board have already embarked on developing electricity infrastructure throughout the entire area to facilitate greater diversification of the country’s energy mix. The third pillar is Transportation. To enable greater industry, trade, and energy production, the Dhaka-Chittagong-Cox’s Bazar transport artery needs to be strengthened and even extended to neighboring countries. More and better national highways and railways are an absolute must to accelerate the movement of goods and people that is essential for highly vibrant industrial agglomeration. Japan recently liberalized the Rules of Origin for goods originated from Bangladesh exported to the far-eastern country and as result, garments exports there have been increased significantly. At the first Japan-Bangladesh Economic Dialogue held at Prime Ministers’ Office on August 21 last, the Japanese proposals included priority agendas for discussion on development of an appropriate industrial site (Special Economic Zone) in Bangladesh for Japanese investors, location of the site, a master-plan study for SEZ development in Bangladesh, incentives for Japanese investors from the side of Bangladesh and , follow-up of the MoU signed between Jetro and Bepza, development of infrastructural base including supply of gas, electricity, water and road connections for industrial site and linkage of ODA loan with technical cooperation projects contributory to development of industrial base. The Japanese agendas also included single-window investment service (one stop service by BoI), simplify and accelerate certification for visa, work permit (difficulties in obtaining work-permit in eight service sectors in Bangladesh for Japanese nationals), removal of complication and contradicts on license procedures and deletion of the non-tariff barriers raised by private sector, especially UD (utilisation of declaration) introduced and practiced by BGMEA for exports, VAT prior registration, customs duty and holding of Japan Fair in Bangladesh regularly and exchange of information related to investment. From the side of host, Bangladesh’s agendas include the demand for investment in Jute, Textile, Pharmaceuticals, ICT sectors by the Japanese investors, Job creation in Japan for Bangladeshi skilled and semi-skilled workers, transfer of technology, construction of LNG terminal and land-based degasification unit, regional connectivity and improvement of road network and urban transportation system (Bass Rapid Transit, Metro Rail Line), duty-free, quota-free market access to Japan for Bangladesh origin goods, signing of an economic or trade agreement between Japan and Bangladesh and simplification of visa procedure for Bangladeshi people, especially for the businessmen. The Saturday’s dialogue was supposed to make some progresses in reaching negotiations on the both side proposals.
Sunday, September 7, 2014
Abe stresses Dhaka-Tokyo coop for mutual growth:Daily Sun
ent (BOI) and Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) and Japan external Trade Organisation at a city hotel Saturday. The Japanese premier said Japanese entrepreneurs are keen to invest in Bangladesh’s energy, power, transport, infrastructure, water-resources and garments sectors. “Bangladesh is an emerging economy. So, my government plans to promote Japanese investment here,” Abe said adding, “Bangladesh is also an important partner for Japan in South Asia.” Senior ministers, policy-makers, regulators and business luminaries of both the countries were present at the dialogue. The Japanese Prime Minister arrived in Dhaka at 1:00 pm (local time) and paid tribute to the martyrs at National Martyrs’ Memorial in Savar, visited Bangabandhu Museum before he appeared at the economic dialogue at 3:00 pm (local time) and then he moved to Prime Ministers’ Office at Old Airport Road for taking part in an official dialogue with Prime Minister Sheikh Hasina. On his arrival, his counterpart Sheikh Hasina accorded him a red-carpet reception at Hazrat Shahjalal International Airport in the capital. The Japanese PM said, “We can grow…like…brothers and sisters.” Abe, in his course of speech, termed the Bay of Bengal Industrial Growth Belt (BIG-B) initiative, which was first outlined during Sheikh Hasina’s visit to Japan in May this year, as the “centerpiece” of Japanese cooperation in Bangladesh. The major focuses of BIG-B are to enhancing trade, commerce and investment opportunities between Japan and Bangladesh. Policy-makers and businesses of both the countries are trying to find ways for it. According to the previously announced official outline, Bangladesh was branded as the linchpin of the Indo-Pacific region. It stands to gain a great deal from the shift in global economic dynamism toward the Indian Ocean. Indeed, the BIG-B seeks to take full advantage of this trend. It foresees Bangladesh transcending its national borders to become a “node & hub” of the regional economy, so that she may reshape herself as a sparkling trading nation deeply incorporated into inter-regional and global value chain networks. This transformation is imperative if its national target of becoming a middle-income country by 2021 and a developed country by 2041 is to be achieved. The main agenda suggested by BIG-B is Bangladesh must adopt “look east” strategy for reaping out trade benefit timely and appropriately. The first pillar of BIG-B is industry and trade. This pillar mainly consists of constructing a long-awaited deep sea port at the Matarbari Island. This will offer Bangladesh an important trade gateway to the rest of Asia and beyond. The second pillar is energy. Matarbari Island can be developed into a massive supply base of primary energy (such as coal, LNG, and oil). The electricity produced from those sources can support a quantum leap in industry and trade, not only within the area covered by BIG-B but also all over Bangladesh. Recognizing the promise this holds, the Power Division and the Bangladesh Power Development Board have already embarked on developing electricity infrastructure throughout the entire area to facilitate greater diversification of the country’s energy mix. The third pillar is Transportation. To enable greater industry, trade, and energy production, the Dhaka-Chittagong-Cox’s Bazar transport artery needs to be strengthened and even extended to neighboring countries. More and better national highways and railways are an absolute must to accelerate the movement of goods and people that is essential for highly vibrant industrial agglomeration. Japan recently liberalized the Rules of Origin for goods originated from Bangladesh exported to the far-eastern country and as result, garments exports there have been increased significantly. At the first Japan-Bangladesh Economic Dialogue held at Prime Ministers’ Office on August 21 last, the Japanese proposals included priority agendas for discussion on development of an appropriate industrial site (Special Economic Zone) in Bangladesh for Japanese investors, location of the site, a master-plan study for SEZ development in Bangladesh, incentives for Japanese investors from the side of Bangladesh and , follow-up of the MoU signed between Jetro and Bepza, development of infrastructural base including supply of gas, electricity, water and road connections for industrial site and linkage of ODA loan with technical cooperation projects contributory to development of industrial base. The Japanese agendas also included single-window investment service (one stop service by BoI), simplify and accelerate certification for visa, work permit (difficulties in obtaining work-permit in eight service sectors in Bangladesh for Japanese nationals), removal of complication and contradicts on license procedures and deletion of the non-tariff barriers raised by private sector, especially UD (utilisation of declaration) introduced and practiced by BGMEA for exports, VAT prior registration, customs duty and holding of Japan Fair in Bangladesh regularly and exchange of information related to investment. From the side of host, Bangladesh’s agendas include the demand for investment in Jute, Textile, Pharmaceuticals, ICT sectors by the Japanese investors, Job creation in Japan for Bangladeshi skilled and semi-skilled workers, transfer of technology, construction of LNG terminal and land-based degasification unit, regional connectivity and improvement of road network and urban transportation system (Bass Rapid Transit, Metro Rail Line), duty-free, quota-free market access to Japan for Bangladesh origin goods, signing of an economic or trade agreement between Japan and Bangladesh and simplification of visa procedure for Bangladeshi people, especially for the businessmen. The Saturday’s dialogue was supposed to make some progresses in reaching negotiations on the both side proposals.
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