Japan hints at signing EPA with Bangladesh after LDC graduation

Japan is currently studying the preferential treatment that can be accorded to Bangladesh after it graduates to a middle-income country, said Nishimura Yasutoshi, Japanese minister for economy, trade and industry.

"An Economic Partnership Agreement [EPA] in this regard would help," he said at a meeting with the State Minister for Foreign Affairs Md Shahriar Alam at the state guesthouse Jamuna in Dhaka on Monday.

A Joint Study Group formed over signing EPA will sit for a second meeting today and tomorrow in Dhaka, sources at the commerce ministry said.

During a visit to Dhaka metro and the third terminal of Hazrat Shahjalal International Airport – both constructed with Japanese aid – Japanese Minister Nishimura also expressed his surprise and delight at Bangladesh's "fast-paced development".

At his meeting with Shahriar Alam, Nishimura expressed his satisfaction with Bangladesh's mega projects carried out in association with Japan, said a foreign ministry press statement.

He praised Bangladesh's youth and energetic population as well as its strategic location between South and Southeast Asia.

State Minister Shahriar Alam reiterated Prime Minister Sheikh Hasina's commitment to make Bangladesh a high-income country by 2041.

He briefed Nishimura on the development achievements carried out by the government in the last one-and-a-half decades.

Referring to the ongoing mega projects of Bangladesh-Japan collaboration, he stressed the need for such joint ventures to materialise Bangladesh's vision of becoming a smart and developed country.

Shahriar Alam called for more Japanese investments in sectors such as infrastructural development, ICT, human resources development and renewable energy.

Nishimura, the first Japanese economy, trade and industry minister to visit Bangladesh, arrived in Dhaka on 23 July on a two-day official visit.

Delighted to see Bangladesh developing so fast: Nishimura

"This is my first visit to Bangladesh in 13 years. I was very surprised and glad to see that Bangladesh is developing so fast," he told reporters at Uttara North station of Dhaka Metro Rail on Monday, after visiting the Japan-funded mega project.

Nishimura also emphasised Japan's commitment to supporting Bangladesh's development endeavours.

After taking a ride on the Dhaka metro from Uttara North-Pallabi-Uttara North station, he said, "It was very comfortable and fast. The Dhaka Metro is a symbol of Japanese cooperation in Bangladesh's development. I hope the people of Dhaka will love this."

He also mentioned that Japan will provide new technology for ongoing projects like the Dhaka Metro Rail.

Shahriar Alam was present with the Japanese minister. After visiting the Metro Rail, both ministers visited the under-construction 3rd Terminal of Hazrat Shahjalal International Airport.           

After visiting the airport terminal, Shahriar Alam told reporters, "Around 80% of works of the third terminal have been completed so far. I heard that a policy decision has been taken to provide ground handling duty to a Japanese company with Prime Minister Sheikh Hasina's consent."

Along with the ongoing MRT Line 6 construction work with Japanese funding, the work of MRT 5, 1, 3, and 4 will also be started in stages, he said.

Shahriar Alam mentioned that a formal discussion (second phase) on the economic partnership agreement (EPA) with Japan will begin on Tuesday.