Japan, Bangladesh have scope to expand bilateral trade: BGMEA president

There is an enormous scope for Japan and Bangladesh to further engage in trade and investment for greater mutual benefit, said Faruque Hassan, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

He said this in exchanging views with Ambassador of Japan to Bangladesh, Ito Naoki, who paid a visited the BGMEA office yesterday in Dhaka's Gulshan.

They discussed possible ways of expanding trade between Bangladesh and Japan, and further deepening the relationship between the two Asian countries. 

At the meeting, they emphasised the importance of removing existing trade barriers to facilitate more trade and investment. 

They also expressed willingness to initiate a communication platform for Bangladeshi and Japanese businessmen, especially those in the fashion industry, to generate business opportunities. 

BGMEA President Faruque Hassan said Bangladesh wishes to increase the share of readymade garment exports to Japan, and sought the Japanese ambassador's cooperation in this regard.

He urged Ambassador Ito Naoki to encourage Japanese businessmen to make investments in sectors with potential – especially the non-cotton textile sector – in Bangladesh. 

The readymade garment sector in Bangladesh is increasingly focusing on apparel made from synthetic fibres to meet rising demand in the global market.

At the meeting, the Japanese envoy discussed the issue of extending incentives to readymade garment factories in export processing zones for exporting to new markets.

He also laid emphasis on further easing the process of doing business in Bangladesh to attract Japanese investment.

The BGMEA president expressed hope that Japan would continue cooperating with Bangladesh in its march towards greater prosperity.

BGMEA Vice President Shahidullah Azim, Vice President Miran Ali, Director Asif Ashraf, and First Secretary of the Embassy of Japan, Haruta Hiroki, were also present at the meeting.