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Bangladesh and Japan have signed four memorandums of cooperation (MoCs) during Prime Minister Tarique Rahman’s official visit to Japan to strengthen bilateral ties and expand cooperation in key sectors.
The agreements cover economic relations and improvement of the business environment, agriculture, and fisheries and livestock, according to a joint statement issued following the bilateral summit between Tarique Rahman and Japanese Prime Minister Sanae Takaichi in Tokyo on Tuesday.
The two countries also exchanged a letter of intent on climate change cooperation and signed a grant-aid agreement worth up to 2.12 billion yen, or around $13 million, for a maritime security capacity-building project.
The agreements aim to promote investment, strengthen trade and improve cooperation in agriculture, fisheries and other areas of mutual interest.
During the summit, the two leaders also agreed to deepen economic cooperation, strengthen supply chains and upgrade the Bay of Bengal Industrial Growth Belt (BIG-B) initiative to “BIG-B for Shared Prosperity”.
Japan has projected private-sector investment of up to one trillion yen, equivalent to around $6.35 billion, in Bangladesh over the next five years.
The investment is expected to create approximately 200,000 jobs.
The visit, which began on October 26, is aimed at expanding trade and investment, accelerating infrastructure development and strengthening the strategic partnership between the two countries.
