‘Bangladesh, Japan will form joint working group to boost trade’

Bangladesh and Japan will form a working group in a bid to remove the existing barriers to trade and investment in both countries, said Commerce Minister Tipu Munshi on Wednesday.

He said this while exchanging views with Japanese Ambassador to Bangladesh Ito Naoki at the former's office in the capital.

The Bangladesh Competition Commission is expected to sign a memorandum of understanding with the Japan Fair Trade Commission when Prime Minister Sheikh Hasina visits Japan within some days. 

Ambassador Naoki said Japan is happy with Bangladesh's advancement in the ease of doing business index.

Japan hopes that Bangladesh will achieve double-digit GDP growth.

Japan is ready to sign a free trade agreement if Bangladesh wants, he said, adding Bangladesh has a scope to export readymade garments and medicine to Japan.

The ambassador also said as Bangladesh is doing well in production of light machinery, his country is interested in providing its support to the sector.

Tipu Munshi said the Japan External Trade Organisation and the Bangladesh Export Promotion Bureau are working together to fortify bilateral trade relations.

The government is setting up 100 special economic zones. Many countries have already come to invest in Bangladesh. Many Japanese firms have also come forward.

Last year the country's maximum investment came from Japan, the commerce minister further said.