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Entrepreneurs seek more Japanese investment

First-ever Japanese trade fair opens today

UNB, Dhaka
As a first-ever Japanese trade fair opens here today, country's private sector yesterday urged Japan to make more investment in Bangladesh and reduce the Dhaka-Tokyo trade gap.
Bangladesh's exports to Japan in 2002-03 came to US$107 million against the import bill of over $400 million, leaving a gap of $292 million in the two-way trade. In July-Dec period of '03-04, exports fetched a paltry amount of $56 million against imports worth $250 million. The imbalance in only six months amounted to $ 193 million.
One major way to reduce the trade gap, FBCCI leaders observed, can be increase in the export of frozen foods to the Japanese market. Bangladesh now ships only five percent of its total shrimp exports to Japan, following a slide from 60 percent in the past.
In a meeting with leaders of Japan Chamber of Commerce and Industry (JCCI) at the Federation Bhaban, the FBCCI leaders also offered ICT services. While per-hour charge for a CAD operator in Japan is $50-60, it is only $10-12 in Bangladesh.
In response, JCCI Advisor and Chairman of the Japan Bangladesh Joint Committee for Commercial and Economic Cooperation (JBJCCEC), ajoint body oftheJCCI and the FBCCI, Koji Nojima assured that he would look into reducing the trade gap and increased Japanese investment.
The Japanese investment in Bangladesh ranks 9th with three per cent of the FDI in Bangladesh. So far, 111 projects with 100 percent Japanese investment or joint
venture between Bangladesh and Japanese companies have been registered with the Board of Investment (BOI).
In the meeting the FBCCI leaders told the Japanese delegation that the government is working to remove the impediments detected by a study of Japan External Trade Organisation (JETRO) that also found Bangladesh as not to be the best destination for foreign investment.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President, Abdul Awal Mintoo, presided over the meeting also addressed by its leaders Kamaluddin Ahmed, Akhtaruzzaman Manju, Dewan Sultan Ahjmed and Golam Mostafa.
Also leaders ofthe newly formed Japan Bangladesh Chambers of Commerce and Industry (JBCCI) spoke on the occasion. They included its President Matiur Rahman Mintoo and Vice Presidents Abdul Haq and Hideo Ueno, a member of the Japanese delegation.
Among the other members of the Japanese delegation were Kunio Sumiyoshi, Executive Vice President of JETRO, and its senior planning official Sanae Kawamutam, and JCCI leaders Takumi Kobayashi, Juyio Toda and KyungHoon Han.
The Japanese are now here to attend the first-ever Japan Trade Show in Dhaka, organised by JERO in collaboration with the FBCCI, JBCCI and the Embassy of Japan. About 60 Japanese companies are taking part in the show displaying their products and services.