Sherpa Hossainy's Blog

Japan urges govt to ease administrative bottlenecks

Posted in Bangladesh, Business, Dhaka, Economy, Export and Import by Sherpa Hossainy on July 21, 2011

Published in The Independent on 15 July 2011

Read the article on Independent website

Digital print version

The Bangladesh government should simplify its administrative procedures to attract foreign investments and remove trade gap with Japan, the Japanese ambassador Tamotsu Shinotsuka said on Thursday.

“Bangladesh needs to remove some bottlenecks such as weak infrastructure and transport and power crisis in order to make any headway to attract foreign investments,” Shinotsuka said.

He was speaking as a special guest at a dialogue on diversification of exports of Bangladesh to Japan, organised by the Dhaka Chamber of Commerce and Industry (DCCI).

The Japanese ambassador said that nowadays production and labour costs are increasing in China and South-East Asian countries like Cambodia and Vietnam, making the Japanese companies shifting their industries from there.

“Japanese investors are keen on investing in Bangladesh due to its cheap labour and they have already started investing in the apparel sector,” he said.

The ambassador said that the new relaxed generalised system of preferences (GSP) adopted by Japan will strengthen Bangladesh and Japan’s bilateral trade and economic relationship.

In January next year, Japan External Trade Organisation (JETRO) will organise a business delegation meeting in Bangladesh to explore the potential investment opportunities in agricultural and food sector, Shinotsuka said.

Faruk Khan, minister for commerce, identified three new areas — light engineering, IT and pharmaceutical — for expanding business with Japan.

He said although utility and infrastructure problems are major barrier to Dhaka-Tokyo trade, the government is trying its best to resolve the problems.

The minister also urged Bangladeshi entrepreneurs to cash in on Japan’s newly relaxed GSP and rules of origin (RoO) system.

“We want to boost trade with Japan and a delegation of Export Promotion Bureau (EPB) would visit Japan in September to explore business opportunities there,” he added.

Creating business-friendly atmosphere is a precondition to attract new businesses, he said stressing the need for simplifying administrative procedures for Foreign Direct Investment (FDI).

Asif Ibrahim, president of DCCI, and Jalal Ahmed, vice chairman of EPB, were also present, while Takashi Suzuki, representative of JETRO, Dhaka, presented the keynote paper on facts and thoughts for Bangladesh export promotion.

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2 Responses

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  1. david said, on August 4, 2011 at 10:21 pm

    very nice blog, I am glad I found it


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