Foreign Minister M Morshed Khan yesterday urged Japanese investors to relocate their sick industries from other countries to Bangladesh to make them more profitable.

Khan also urged them to get the opportunities of cheap labour and investment-friendly environment in Bangladesh.

He said if Japanese sunset industries are relocated to Bangladesh, their products will get different facilities in international market as Bangladesh is a least developed country.

The foreign minister was speaking at the inaugural ceremony of the three-day 'Japan Trade Fair' at Dhaka Sheraton Hotel.

He also said Dhaka is ready to offer several facilities, including a special economic zone, if required, to Japanese investors to boost Japanese investment in Bangladesh.

Showcasing their products and services in 55 stalls, 40 Japanese companies including automobile, electronics, textile machinery, IT and aviation, have participated in the fair.

Speaking at the inauguration, Executive Chairman of the Board of Investment (BoI) Mahmudur Rahman said, "Very few LDCs have the infrastructure like ours," adding that time has come for Japan to

become the biggest investor in Bangladesh instead of the biggest donor.

Japanese investment in the country's EPZs (export processing zones) was third highest in 2004, but the investment is very insignificant outside the EPZs, BoI chairman said.

Japanese Ambassador in Dhaka Matsushiro Horiguchi,

Chairman of Japan-Bangladesh Joint Committee for Commercial and Economic Cooperation Koji Nojima, President of Japanese Commerce & Industry Association in Dhaka Eiji Sekine and JETRO Representative in Dhaka Sotaro Nishikawa also spoke at the inaugural function.

Although the trade gap between the two countries is heavily in favour

of Japan, exports to Japan have been rising for the past few years.

In the fiscal year 2003-04 Bangladesh earned $118.33 million through export to Japan while it imported goods and machinery worth $551.65 million from the country during the same period. On the other hand, until 2003 Japan provided $221 billion as assistance for Bangladesh.