Japan has reaffirmed its commitment to continuing development cooperation with Bangladesh, while new opportunities have emerged to boost private investment, technology transfer and human resource development following Prime Minister Tarique Rahman’s four-day official visit to Japan.
Foreign Affairs State Minister Humayun Kabir shared the outcomes of the prime minister’s visit from October 26 to 29 at a press conference held at the Ministry of Foreign Affairs on Friday (October 30).
He said the visit marked an important step towards transforming the longstanding development cooperation between the two countries into a mutually beneficial economic and investment partnership.
According to the state minister, both countries are keen to expand cooperation beyond traditional concessional loans and development assistance, focusing instead on investment, technology transfer, employment generation and shared economic opportunities.
He described the visit as productive and effective, saying it had strengthened Bangladesh-Japan relations and laid the foundation for broader economic cooperation.
Highlighting a major outcome of the visit, Humayun Kabir said Prime Minister Tarique Rahman and Japanese Prime Minister Sanae Takaichi welcomed the potential for up to 1 trillion yen, equivalent to approximately $6.3 billion, in Japanese private-sector investment in Bangladesh over the next five years.
The potential investment could create around 200,000 jobs in Bangladesh, he added.
However, the state minister clarified that the figure represents investment potential in the private sector and does not constitute a commitment by the Japanese government to provide sovereign loans.
He said a Japanese economic delegation is expected to visit Bangladesh soon at a mutually convenient time following consultations and joint ministerial discussions.
The government will carefully evaluate investment proposals based on national priorities, cost-effectiveness, competitiveness and employment generation, ensuring that investments deliver adequate economic benefits.
The two countries have also agreed to upgrade the long-standing Bay of Bengal Industrial Growth Belt (BIG-B) initiative into “BIG-B for Shared Prosperity”, reflecting the evolving nature of their economic partnership.
Under the upgraded initiative, cooperation will focus on the integrated development of energy, deep-sea ports, industrial facilities, information and communication technology infrastructure, and connectivity.
Both governments also plan to expand cooperation in the public and private sectors.
Humayun Kabir clarified that discussions under the initiative during the visit remained confined to bilateral economic relations between Bangladesh and Japan, with no third country involved.
Japan has reaffirmed its commitment to supporting Bangladesh’s major infrastructure and development priorities.
The discussions covered preparations for the early commissioning of the third terminal at Hazrat Shahjalal International Airport, accelerating the implementation of Dhaka’s Mass Rapid Transit (MRT) projects, and Japanese cooperation in the construction, operation and management of the Matarbari deep-sea port.
The state minister also said Prime Minister Tarique Rahman expressed gratitude for Japan’s emergency support loan of 50 billion yen, equivalent to approximately $314 million, aimed at strengthening economic resilience and ensuring stability in energy supplies.
Humayun Kabir said the outcomes of the visit reflect the government’s “Bangladesh First” foreign policy, which prioritises national interests, mutual respect and stronger international economic partnerships.
