“Bangladesh Automotive Industry, an Emerging Investment Destination for Japan”

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DCCI chairman said in meeting with Japanese envoy

DCCI President Rizwan Rahman held a bilateral business meeting on Sunday with Japanese Ambassador to Bangladesh Ito Naoki at the DCCI office. Photo: Collected

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DCCI President Rizwan Rahman held a bilateral business meeting on Sunday with Japanese Ambassador to Bangladesh Ito Naoki at the DCCI office. Photo: Collected

The automobile industry in Bangladesh could be an emerging investment destination for Japanese entrepreneurs, said Rizwan Rahman, chairman of the Dhaka Chamber of Commerce and Industry (DCCI) today.

Rahman said this during a bilateral business meeting with Japanese Ambassador to Bangladesh Ito Naoki, held at DCCI.

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In fiscal year 2019-2020, Bangladesh’s bilateral trade with Japan amounted to $ 2.92 billion when Bangladesh exported goods worth $ 1.2 billion and imported 1, $ 72 billion from the East Asian island nation, he said.

But Bangladesh’s exports to Japan fell to $ 1.18 billion in fiscal year 2020-21 due to the Covid-19 pandemic, he said and expressed hope that the amount would increase in the coming days.

He said 321 Japanese companies were now operating in Bangladesh and Japanese foreign direct investment in Bangladesh stood at $ 397.15 million as of March 2021.

Stating that Bangladesh mainly exports clothing products to Japan, he urged the Ambassador to facilitate the export of other promising products to Japan.

Mentioning the strong bilateral trade relationship that Japan has with Bangladesh, he thanked the Japanese government for providing the Covid-19 vaccine to the Bangladeshi people.

Naoki said Bangladesh has been able to send a strong message to the world and maintain positive gross domestic product growth even during the pandemic.

He also said that the Japanese economic zone of Araihazar can be operational by next year and that it will accelerate Japanese investments in Bangladesh.

The Japanese ambassador said the governments of the two countries can sign free trade agreements.

Naoki also said that the automobile industry in Bangladesh can be a good destination for investments.

Japan’s Mitsubishi has completed its feasibility study and next year it will make the decision to invest in Bangladesh, he added.


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