Takaichi: “Private investment in Bangladesh is expected to amount to 1 trillion yen over the next five years.”

Japan-Bangladesh summit... “200,000 jobs will be created”

(Tokyo = Yonhap News) Correspondent Lee Do-yeon = Japanese Prime Minister Sanae Takaichi announced that Japanese companies' investment in Bangladesh over the next five years is expected to reach up to 1 trillion yen (8.4 trillion won).

According to the Japanese Ministry of Foreign Affairs on the 27th, Prime Minister Takaichi said this during a summit meeting with Bangladesh Prime Minister Tariq Rahman at the Prime Minister's Office in Tokyo and said that he expects this investment to create 200,000 jobs in Bangladesh.

He added that he intends to send an economic mission to Bangladesh soon.

Prime Minister Takaichi and Prime Minister Rahman decided to develop the 'Bay of Bengal Industrial Growth Zone' (BIG-B) plan proposed by former Prime Minister Shinzo Abe in 2014.

Through this, the plan is to connect the nearby Bay of Bengal region, centering on Bangladesh, and create a 'region of common prosperity' in preparation for natural disasters and geopolitical risks.

In addition, the two leaders agreed to ensure early entry into force of the Economic Partnership Agreement (EPA) between Japan and Bangladesh and to strengthen cooperation in areas such as trade, investment, agriculture, forestry, fisheries, environment and climate change, and aviation.

Japan and Bangladesh signed the EPA last February.

Prime Minister Takaichi mentioned his foreign policy of 'Free and Open Indo-Pacific' (FOIP) and expressed strong support for Bangladesh's ability to have the freedom and resilience to make its own decisions.

He also emphasized that he would cooperate for regional peace and stability through defense cooperation.

Japan provided five patrol boats to the Bangladesh Navy last July through 'Security Enhancement Assistance' (OSA), a free defense equipment donation system.