Japan to support Bangladesh's smooth graduation from LDC

Japan will support Bangladesh to improve trade performance and diversify products for smooth graduation from the least developed country (LDC) status expected in 2026 and moving ahead towards achieving the vision of a developed nation by 2041.

To this end, the two countries on Wednesday signed "Bangladesh-Japan Industrial Upgrading Partnership Cooperation" aiming to establish a framework to jointly explore the possibilities of upgrading Bangladesh's industries through promoting cooperation at both government and private levels.

This was one of the eight instruments signed in Tokyo on the second day of Bangladesh Prime Minister Sheikh Hasina's four-day state visit to Japan at the invitation of her Japanese counterpart Fumio Kishida.

The memorandums of cooperation (MOCs) signed at Prime Minister Kishida's Office in Tokyo in the presence of the two prime ministers will facilitate more cooperation in agriculture, metro rail, industrial upgrade, ship recycling, customs matters, intellectual properties, defence, ICT and cyber security.

Infograph: TBS

The first instrument was signed between the agriculture ministries of the two countries on cooperation for agricultural research and development and capacity building.

The second one is an agreement on cooperation and mutual assistance in customs issues to ensure the proper application of the customs laws, to prevent customs offence and make efforts to simplify and harmonise customs procedures.

The third one is for cooperation in trade and industry under the Industrial Upgrading Partnership agreement aimed at exploring the possibilities for upgrading Bangladesh's industries to help Bangladesh smoothly graduate from LDC status and move towards in line with "Vision 2041".

The fourth one is for defence cooperation to promote and strengthen cooperation in the fields of defence dialogue, training and technology transfer.

The fifth MOC aims to cooperate more in the field of Metro Rail, technology for infrastructure, safety management and disaster prevention measures.

The two countries also agreed to work together in ship recycling. The Bangladeshi side will make every effort to achieve required capabilities to accede and implement the Hong Kong International Convention (HKC) for the safe and environmentally sound recycling of ships by the end of 2023.

The Japanese side will make every effort to provide support for the development of Bangladesh in the field of ship recycling, including the establishment of a Treatment, Storage and Disposal Facility, and to assist Bangladesh to meet the requirements in provisions of the HKC.

Photo: Reuters

Tokyo will extend support for Bangladesh to protect intellectual property rights to enhance the development of industry and innovation.

The eighth MOC promises close cooperation in the information and communication technology including Cyber security.

Agriculture Minister Dr Muhammad Abdur Razzaque, Chairman (Senior Secretary) National Board of Revenue Abu Hena Md Rahmatul Muneem, Senior Secretary of the Ministry of Commerce Tapan Kanti Ghosh, Principal Staff Officer of the Armed Forces Division Lieutenant General Waker-uz-Zaman, Road Transport and Highways Division Secretary A B M Amin Ullah Nuri, Secretary of Ministry of Industry Zakia Sultana and State Minister for Information and Communication Technology (ICT) Zunaid Ahmed Palak signed the instruments respectively from Bangladesh side.

The prime minister started the second day of her four-day state tour to Japan with a number of engagements, including meetings with Japanese Emperor Naruhito at the Imperial Palace, Japanese Foreign Minister Yoshimasa Hayashi, Bangladesh-Japan Committee for Commercial and Economic Cooperation chairman, JICA president, JETRO chairman and Bangladesh Friendship Parliamentary League president.

Sheikh Hasina is visiting Japan after three years since she last visited in 2019, before the Covid-19 pandemic broke out.

She is scheduled to return to Dhaka on 9 May.