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Bangladesh and Japan Ink 8 Deals for Industrial and Defence Upgrades

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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.

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PM Sheikh Hasina apprehended such strike by BNP-Jamaat to halt country’s prosperity

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Referring to the countrywide recent havoc and atrocities, Prime Minister Sheikh Hasina today said that she had an apprehension there might be a strike like this by the BNP-Jamaat clique to pull down the country’s prosperity.

“. . . they (BNP-Jamaat) had wanted not to hold the elections, but we had arranged the elections. After election they thought it wouldn’t be accepted by all, but we’ve also made it acceptable to all and we’ve formed the government. It was an apprehension to me that there would be a strike like this,” she said.

The Premier made this remarks while exchanging views with editors, senior journalists and head of news of various media outlets, organised by Editors’ Guild at her office (PMO).

She mentioned that before and after the election in 2013-14, the BNP-Jmaat clique unleashed arson attacks and killings that left hundreds of people killed and thousands injured.

“It was little bit understandable that this (the activities and movement of the students) was a grave conspiracy,” she said.

Sheikh Hasina said that she didn’t want any incident which might invite any unwanted situation that will invite instability in the country. “It was the target to destroy country’s economy,” she said.

She questioned about the understanding level of the people who supported these mayhem aiming to cripple the country’s advancement and prosperity.

Sheikh Hasina, also the chief of Awami League, said that vested quarter is highly interested to destroy country’s independence and the continuation of the democracy that is going on for long 15 years.

She again said that she never wanted to deploy army personnel in the field while the students were there for the sake of their security.

 

“While they (students) declared that they are not involved in the on going subversive activities then we called for army,” she said.

The premiers also said that she also didn’t want to impose curfew as the country is going through a democratic environment for 15 years.

She requested the people to resist those who have done this bane for the country. “They have destroyed all the structures have been built for their welfare and livelihood. They have struck all those structures. Who will be the worst sufferer? Of course, mass people. Now it is the responsibility of the mass people to resist these terrorism and militancy,” she said.

The premier called for creating mass awareness against the militancy that has opened in the destructive activities.”If the people don’t become aware then what could we do or how much we could do alone,” she said.

She also mentioned that the targets of the recent mayhem was Awami League, Freedom Fighters and pro-liberation forces.

The Prime Minister said that when all demands of the quota-free movement students were accepted why they gave scope to the militants for doing such heinous activities.

“One day the quota-free movement activists have to answer to the nation, why they gave such opportunity to them for this destruction to the country,” she said.

PM’s Press Secretary Md Nayeemul Islam Khan moderated the programme, while Editors’ Guild president Mozammel Huq Babu delivered welcome address.

Senior journalist Abed Khan, Bangladesh Pratidin editor Nayeem Nizam, DBC Editor-in-Chief and CEO Monzurul Islam, Bhorer Kagoj Editor and Jatiya Press Club general secretary Shyamol Dutta, Daily Jugantor Editor Saiful Alam, Jatiya Press Club president Farida Yasmin, Dhaka Journal chief editor Syed Istiaque Reza, Head of News Nagorik TV Dip Azad, Amader Somoy Editor Mainul Alam, Bangladesh Journal editor Shajahan Sarder, DBC news editor Zayedul Ahsan Pintu, Ashish Saikat of Independent TV, Bangla Tribune editor Zulfiquer Russell, head of News of 71 TV Shakil Ahmed, Energy and Power Editor Mollah Amzad, Head of News of Kings News Nazmul Huq Saikat and Mamunur Rahman Khan of RTV also spoke.

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UK inflation holds at 2% in June: official data

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Britain’s inflation rate held steady in June after returning to the Bank of England’s target the previous month, official data showed Wednesday, confounding expectations for another modest slowdown.

The Consumer Prices Index was unchanged at 2.0 percent in June from the same level in May, the Office for National Statistics said in a statement, compared with market forecasts of 1.9 percent.

“Hotel prices rose strongly, while second-hand car costs fell but by less than this time last year,” said ONS chief executive Grant Fitzner.
“However, these were offset by falling clothing prices, with widespread sales driving down their cost.

“Meanwhile, the cost of both raw materials and goods leaving factories fell on the month, though factory gate prices remain above where they were a year ago.”

Analysts said the data could cause the Bank of England to sit tight for a while longer before starting to cut interest rates.

“The chances of an interest rate cut in August have diminished a bit more,” said Paul Dales, chief UK economist at research consultancy Capital Economics.

Last month, the BoE kept its key interest rate at a 16-year high of 5.25 percent, despite slowing inflation in May.

Britain’s newly elected Labour government welcomed news that inflation remained at the BoE’s target level.

“It is welcome that inflation is at target,” said Darren Jones, Chief Secretary to the Treasury, in a statement.

“But we know that for families across Britain prices remain high… (which) is why this government is taking the tough decisions now to fix the foundations” of the UK economy, he said.

Labour, led by new Prime Minister Keir Starmer, has pledged immediate action to grow the economy after the centre-left party won a landslide general election victory to end 14 years of Conservative rule.

Later on Wednesday, King Charles III will read out Labour’s first programme for government in a decade and a half, when the UK parliament formally reopens following the July 4 election.
Elevated interest rates have worsened a UK cost-of-living squeeze because they increase borrowing repayments, thereby cutting disposable incomes and crimping economic activity.

The BoE began a series of rate hikes in late 2021 to combat inflation, which rose after countries emerged from Covid lockdowns and accelerated after the invasion of Ukraine by key oil and gas producer Russia.

 

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China’s economy grew less than expected in second quarter: official data

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China’s economy grew 4.7 percent year-on-year in the second quarter of 2024, official data showed Monday, less than analysts had expected.

“By quarter, the GDP for the first quarter increased by 5.3 percent year on year and for the second quarter 4.7 percent,” Beijing’s National Bureau of Statistics (NBS) said in a statement.

The figures were much lower than the 5.1 percent predicted by analysts polled by Bloomberg.

Retail sales — a key gauge of consumption — also slowed to just two percent in June, the NBS said, down from 3.7 percent in May.

The world’s second-largest economy is grappling with a real estate debt crisis, weakening consumption, an ageing population and trade tensions with Western rivals.

Top officials are meeting in Beijing on Monday for a key plenum, with all eyes on how they might kickstart lacklustre growth.

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