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Exploring the potential and expedite further growth with the Bay of Bengal Industrial Gowth Belt

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June 23, 2014

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Exploring the potential and expedite further growth with the Bay of Bengal Industrial Gowth Belt

Md. Mohsin:  japan has expressed its commitment to providing up to 600 billion yen of assistance to Bangladesh from this year by fully taking into accounPic-2t the proper and smooth implementation of projects. This was disclosed at a joint press conference  after the summit-level official talks between the prime minister Sheikh Hasina and her Japanese counterpart Shinzo Abe at the Prime Minister’s Office. At the talks, Dhaka and Tokyo have agreed to establish a ‘comprehensive partnership’ to further deepen the bilateral ties. At the press conference, Sheikh Hasina said the Japanese prime minister shared his intention to promote the concept of the Bay of Bengal Industrial Growth Belt (BIG-B) during the summit talks. ‘I express our deep gratitude to Your Excellency Prime Minister Abe and your government for this commitment,’ she said. Hasina thanked the Japanese government for approving the 35th ODA Loan Package for the execution of five important projects. ‘It will have an impact on the socioeconomic development,’ she said. Hasina said during the official talks with Abe, they have discussed almost all issues of bilateral ties, including economic cooperation. ‘I am pleased to state that it was a very constructive discussion,’ she said. ‘Thereafter, we have signed a joint statement reflecting the issues discussed and convergences arrived at.

And the joint statement would provide a guideline for the implementation of issues we both decided to carry out for the mutual benefit of two countries,’ she said. At the news conference, Shinzo Abe said that Bangladesh had a great economic potential and Japan had come up with a concept of exploring the potential and expedite further growth with the Bay of Bengal Industrial Growth Belt (BIG-B) ‘To realize the concept, Japan is expected to exchange economic cooperation amounting to about 600 billion yen for roughly 4 to 5 years,’ he added. He said that in the areas of politics and security, Japan and Bangladesh would start foreign secretary-level talks to enhance policy dialogue.

In the areas of nuclear power, Abe said that Tokyo and Dhaka would start an expert-level dialogue on the peaceful utilization of nuclear power in Bangladesh to share the experience and lessons of the accident of Fukushima Daiichi power plant. He said that they also shared the views to start a joint Bangladesh-Japan public-private economic dialogue to promote trade and expand private investment. Attending a dinner hosted by Shinzo Abe in her honour, Sheikh Hasina sought support of Japan for building a knowledge-based society, development of human resources and undertaking massive infrastructural developments. Sheikh Hasina said, ‘We admire Japan for the resilience of its people and nation’s phenomenal growth out of the ashes of the Second World War that has made Japan a role model of development.’

She sought Japan’s support to Bangladesh’s demand for inclusion of international migration issue and the security of climate vulnerable countries in the post-2015 UN Development Agenda. While meeting the Japanese Emperor Akihito, prime minister Sheikh Hasina at the ImperialPalace invited him and the Empress Michiko to visit Bangladesh at a convenient time. Earlier in the morning, Sheikh Hasina met a delegation of of the Japan-Bangladesh Parliamentary League led by Takeo Kawamura at AkasakaPalace.

After the summit-level talks,  Bangladesh and Japan affirmed their commitment to further strengthen bilateral cooperation by elevating the friendly relationship to a new partnership recognising the long-standing relations between the two countries based on shared values of peace, democracy, human rights and rule of law.

A joint statement, issued after talks between prime minister Sheikh Hasina and prime minister Shinzo Abe, said the two leaders agreed for developing economic infrastructure for industrial growth, improving investment environment to attract foreign businesses and enhancing social development.

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