Economy
Bangladesh and Japan Ink 8 Deals for Industrial and Defence Upgrades
Bangladesh and Japan have signed 8 agreements and MoUs to strengthen mutual cooperation in areas such as industrial upgrading, defense, agriculture, customs, IT and cybersecurity, intellectual property, ship recycling, and metro rail. The agreements were signed on Wednesday (April 26) in the office of the Prime Minister of Japan, in the presence of Bangladesh Prime Minister Sheikh Hasina and her Japanese counterpart Fumio Kishida.
Before the signing of the agreements, the two Prime Ministers held a bilateral meeting with top-level representatives from both sides.
This visit is considered extremely important due to the ongoing global economic slowdown, the COVID-19 pandemic, and the Russia-Ukraine conflict. Both countries will also discuss the issue of strong cooperation to overcome these crises and will also work together to enhance regional security, connectivity, and economic growth.
8 Agreement and Contract Memorandum
1. Japan’s Ministry of Agriculture, Forestry and Fisheries and Bangladesh’s Ministry of Agriculture signed a memorandum of understanding to increase cooperation in agricultural research and development, and capacity building.
2. Japan and Bangladesh governments signed an agreement on mutual cooperation on customs matters. Under this agreement, both countries will ensure the appropriate application of customs laws, prevention, investigation and suppression of customs offenses, and simplify and harmonize customs procedures to enhance cooperation between them.
3. Bangladesh’s Ministry of Commerce and Japan’s Ministry of Economy, Trade and Industry signed a memorandum of understanding on “Bangladesh-Japan Industrial Development Partnership.” The agreement aims to support Bangladesh’s efforts to develop into an advanced economy by 2041 through assistance to the government and private sector to enhance Bangladesh’s trade capacity and product diversity, and explore opportunities for joint industrial development between the two countries. The partnership will also facilitate research and exploration of the potential for mutual industrial cooperation.
4. The governments of Bangladesh and Japan have entered into an agreement to enhance cooperation in defense. Under this agreement, robust collaboration will be fostered in defense dialogue, exchange visits, education, training, courses, seminars, workshops, technology transfer, and other defense-related activities.
5. The Ministry of Land, Infrastructure, Transport, and Tourism of Japan and the Ministry of Road Transport and Bridges of Bangladesh have signed a memorandum of understanding regarding cooperation in the metro rail sector. This memorandum covers cooperation in metro rail policy, legislation, and regulations; technology for infrastructure, rolling stock, and systems; safety policy and management; and disaster resilience measures.
6. Japan and Bangladesh have collaborated to commemorate a partnership in the shipbreaking industry, infrastructure, transportation, and tourism sectors by signing a memorandum of cooperation. Bangladesh aims to acquire the necessary capabilities for the safe and environmentally sound recycling of ships by 2023 through the adoption and implementation of the Hong Kong International Convention for the safe and environmentally sound recycling of ships. Japan will provide essential support to Bangladesh in realizing this goal, including establishing facilities for treatment, preservation, and deactivation. The Hong Kong International Convention will aid Bangladesh in actualizing its objectives and receive maximum assistance from Japan.
7. Japan’s Patent Office and Bangladesh’s Intellectual Property, Design, and Trademark Department have signed a memorandum of cooperation as a symbol of collaboration. Within its scope, the agreement aims to enhance awareness and development of intellectual property (IP) rights and the IP system, including the establishment of information and discussion channels, fostering innovation in industries and development.
8. In the field of information and communication technology, including cybersecurity, Japan’s Ministry of Foreign Affairs and Bangladesh’s Ministry of Posts, Telecommunications, and Information Technology have established a memorandum of cooperation. This agreement signifies mutual collaboration in the exchange of information and technology, ensuring cyber safety and security, and promoting advancements in the telecom and IT sectors in both countries.
Bangladesh Prime Minister Sheikh Hasina met with Japan’s Emperor Naruhito before her meeting with Japanese Prime Minister Fumio Kishida. The meeting took place at the Imperial Palace in Tokyo on Tuesday, April 25th. This trip marks Sheikh Hasina’s return to Japan after three years, having last visited in 2019 before the COVID-19 pandemic.
During this trip, Prime Minister Sheikh Hasina will be visiting three countries. After Japan, she will travel to Washington, D.C., in the United States, and then to the United Kingdom. She is scheduled to return to Bangladesh on Tuesday, May 9th, following the conclusion of her international engagements.
Expatriate Bangladeshis sent approximately US$ 2.11 billion in remittances during the first 28 days of September in the fiscal year 2024-25, according to data released by Bangladesh Bank on 29 September.
Of this total, state-owned and specialised banks handled $679.10 million, while private banks received $1.43 billion in remittances.
Chief Adviser to Bangladesh’s interim government, Professor Muhammad Yunus, has vowed to expedite reforms and hold elections swiftly. Yunus, who recently assumed the role after the collapse of Prime Minister Sheikh Hasina’s 15-year administration, expressed his commitment during an interview with Tokyo-based news outlet NHK WORLD in New York on Sunday. He was attending the United Nations General Assembly at the time.
Following mass student-led protests that ended Hasina’s long-standing rule in August, Yunus stepped in as the leader of the caretaker government. Known for founding Grameen Bank, an institution providing microloans to the underprivileged, Yunus, along with the bank, earned the Nobel Peace Prize in 2006 for his efforts in poverty alleviation.
During the interview, Yunus emphasized that the interim government’s primary mission is to implement reforms promptly and ensure elections are held as soon as the groundwork is complete. He underscored the importance of success, stating, “Failure is not something that we can accept.”
Addressing the pivotal role of students in the ousting of the Hasina administration, Yunus acknowledged the sacrifices made by young people, referring to their involvement as part of a “revolution.” He highlighted his intention to engage the younger generation in shaping policy.
Furthermore, Yunus called for continued support from Japan, Bangladesh’s largest donor, during this crucial transition period. He stressed that Japan’s assistance is vital to stabilizing Bangladesh’s economy and fostering a democratic foundation in the nation.
Syeda Rizwana Hasan, the Adviser for Environment, Forests, and Climate Change, announced today that steps will be taken to restrict the use of polythene shopping bags to safeguard future generations.
Starting from October 1, polythene bags will be banned in shopping malls, followed by a ban in kitchen markets from November 1.
“Everyone must take responsibility and stop using polythene voluntarily. Action against polythene producers will begin from November 1,” Rizwana Hasan stated during a seminar.
The Department of Environment (DoE) organized the seminar to raise public awareness about alternatives to banned polythene bags.
Rizwana Hasan highlighted that the restriction on polythene will be executed in phases according to legal provisions, and discussions with shopping centers and store owners are ongoing to ensure a smooth transition.
She also announced plans to make the government secretariat a plastic-free zone by December.
Other speakers at the seminar included Environment Secretary Dr. Farhina Ahmed, DoE Director General Dr. Abdul Hamid, Director Rajinara Begum, President of the Shop Owners Association Muhammad Helal Uddin, and Md. Arifur Rahman Bhuiyan, Assistant Professor of Environmental Science at BUP. They discussed the harmful effects of polythene and the need for alternative products.
Earlier, Rizwana Hasan inaugurated a fair showcasing eco-friendly alternatives to polythene bags and visited 24 stalls. The fair featured products from government and private entrepreneurs, including reusable bags, jute bags, paper bags, and items made from bamboo and cane.
