Japan to invest in SEZ: Tofail

Japan has decided to invest in a Special Economic Zone (SEZ) in Bangladesh, Commerce Minister Tofail Ahmed said today.

"A Japanese business delegation will be here soon," he said after a meeting with Japanese Ambassador Masato Watanabe at his secretariat office.

Bangladesh is developing 100 SEZs across the country as per the decision of Prime Minister Sheikh Hasina. The decision of Japan's investment was taken during its premier's recent visit to Bangladesh.

Mentioning that 350 Japanese companies are now investing in Bangladesh against only 35 companies 10 years ago, Tofail said there is immense business potentials between Bangladesh and Japan. Bangladeshi RMG, leather and leather goods along with other products have a good demand in Japanese market, he added.

Japan is now providing duty and quota free access to all Bangladeshi products except arms and hand gloves. Last year Bangladesh exported products of US$ 1.08 billion against the import volume of US$ 1.2 billion.

Terming Bangladesh as a good friend of Japan, the ambassador hoped that economic and business ties between the two countries will be strengthened in future.

"Japanese investors are enthusiastic to invest in Special Economic Zone," added the envoy.

Commerce secretary Shubhashish Bose and WTO Cell director general Munir Chowdhury were present.

Source: BSS