ET Desk:  Minister for Foreign Affairs Humaiun Kobir today said Prime Minister Tarique Rahman’s commitment to democracy and his government’s development initiatives have boosted Japan’s confidence in Bangladesh.

“Bangladesh’s democratic transition has drawn growing international interest, with Japan now viewing the country, under Prime Minister Tarique Rahman’s leadership, as an important partner for investment and economic cooperation,” he said at a press conference at the Bangladesh Embassy in Tokyo tonight.

Humaiun said the issue of Japan’s support for Bangladesh’s democratic transition and development efforts also came up during PM’s bilateral meeting with Japanese Prime Minister Sanae Takaichi yesterday.

He said the Japanese prime minister had reiterated her government’s strong support for Bangladesh’s national development efforts. Both sides emphasised upgrading their traditional friendship into a strategic economic partnership.

During the visit, initiatives were taken to strengthen cooperation in economic affairs, investment, trade expansion, employment, agriculture, fisheries and livestock and climate change, Humaiun said.

Six cooperation instruments were signed between the two countries, while financing commitments were secured for two yen-loan projects during the visit. These initiatives would create opportunities to advance Bangladesh’s economic development, infrastructure and capacity building in various sectors, he added.

Humaiun Kobir said interest among Japanese investors in Bangladesh was growing alongside government-level initiatives. During the visit, potential investment opportunities worth around US$6 billion were discussed, while prospects for expanding investment in Bangladesh over the next five years also came up.

Noting that Tarique Rahman wanted to make Bangladesh a more attractive destination for foreign investment, Humaiun said the government was emphasising a business-friendly environment, tax incentives, greater transparency and accountability and resolution of longstanding problems faced by investors.

He said the Prime Minister met the governor of the Japan Bank for International Cooperation (JBIC) today, with discussions focusing on Bangladesh’s investment climate, economic potential and cooperation in infrastructure development.

The Prime Minister also visited the headquarters of Japanese clothing brand Uniqlo and invited its top officials to invest in Bangladesh, he said.

Highlighting Bangladesh’s young population, manufacturing capacity and potential for a business-friendly environment, PM urged Japanese companies to become partners in the country’s development journey.

Humaiun said the Prime Minister also stressed expanding trade and investment partnerships between the two countries at the Bangladesh-Japan Economic Forum organised by the Japan External Trade Organization (JETRO).

Bangladesh’s young population, skilled workforce and emerging investment opportunities were highlighted before Japanese business leaders at the forum, he said.

Discussions also covered opportunities for investment partnerships in Bangladesh’s roads, railways and other infrastructure sectors, he said, adding that attracting Japanese investment would help create jobs and accelerate economic growth.

The state minister said the joint statement issued by the two countries outlined various areas of bilateral cooperation and future plans.

He said Bangladesh’s national interests, economic development and the strengthening of a long-term partnership with Japan had remained the priorities throughout the visit.

“We hope Prime Minister Tarique Rahman’s visit will take Bangladesh-Japan relations to new heights and open up new opportunities for the country’s development and prosperity,” Humaiun Kobir said.

Prime Minister’s Additional Press Secretary Atikur Rahman Rumon and Deputy Press Secretary Shahadat Shadhin were also present at the press conference.