H.E Mr. Mahmudur Rahman, Adviser for Energy and Mineral Resources and Executive Chairman, BOI,
H.E. Mr. Matsushiro Horiguchi, Ambassador of Japan to Bangladesh,
Mr. Koji Nojima, Chairman of the Japan-Bangladesh Joint Committee for Commercial and Economic Cooperation,
Mr. Matiur Rahman, President, Japan Bangladesh Chamber of Commerce and Industry,

Ladies and Gentlemen,

I am delighted to be present amongst you on this auspicious occasion of the opening of the Japan Trade Show 2005 organized by Japan Bangladesh Chamber of Commerce and Industry. I would like to put on record the contribution of the Japan Bangladesh Chamber of Commerce and Industry (JBCCI) and the Japan- Bangladesh Joint Committee for Commercial and Economic Cooperation (JBCCEC) in further proportioning trade and investment relations between Bangladesh and Japan. I recall with pleasure Hon'ble Prime Minister's meeting with the business leaders of Japan during her official visit last July. In her address at the business seminar organized by the JBCCECS she had underscored the need for exploiting the full potentials for expansion of bilateral trade and investment. To this effect she had urged for more interactions among the businesspeople of the two countries. I am happy that today we have set about a significant and meaningful step in that regard.

I firmly believe that our two friendly countries must have strong economic ties between us as a major reinforcing element of overall bilateral relations, particularly in this era of globalization.

Ladies and Gentlemen,

Japan is the foremost development partner of Bangladesh and a major trading partner. She is also an important source of foreign investment in Bangladesh. Both our countries are also actively engaged in generating further momentum to the existing close bilateral cooperation.

This has been amply manifested in the 2nd Japan Trade Show in Dhaka this year and the formation of the Japan Bangladesh Chamber of Commerce and Industries last year. I am confident that the Trade Show and the Japan Bangladesh Chamber of Commerce and Industries will provide greater opportunities for interaction among the businesspersons of Bangladesh and Japan. This is sure to have positive impact on our existing economic relationship.

Ladies and Gentlemen,

The government of Bangladesh pursues a developement policy for the improvement of the conditions of the common people through implementation of various programs of socio-economic developement. To do this Bangladesh needs to achieve a faster growth rate. Technical and financial assistance from friendly countries, like Japan have always played a significant role in this respect.

The trade relations between Japan and Bangladesh have remained steady though the volume is not very big, amounting to about 700 million US Dollars a year. There is, in fact, a huge scope for expansion of trade, particularly, exports from Bangladesh to Japan. I am optimistic that today's trade show will add further momentum for stronger trade relations between the two countries.

Ladies and Gentlemen,

I strongly feel that investment should be one of the most crucial aspects of Bangladesh-Japan relations. The figures of Japanese investment, however, do not reflect the true potential in this area. Our Government is providing a number of incentives including tax-holiday, creation of an exclusive EPZ for Japanese investors in near future, and other measures. Foreign investment in Bangladesh is legally protected against nationalization and expropriation. The government also guarantees repatriation of capital and dividend and equitable treatment with local investors. Bangladesh also has a bilateral agreement with Japan on avoidance of double taxation. I am confident that Japanese businessmen would seize the existing opportunities and invest in Bangladesh in a bigger way. In this context, I encourage you to examine the potential in the textiles, petrochemicals, pharmaceuticals and IT sectors.

Ladies and Gentlemen,

I want to mention here that a recent study by JETRO highlighted investment prospects in Bangladesh. The study entitled "15th Survey of Investment related Cost Comparison in major Cities and Regions of Asia" described Bangladesh as "more competitive than other countries which are potential from the investment point of view to foreign investors" because of our excellent fiscal and monetary management. These should encourage Japanese business people to invest in Bangladesh.

In recent times we have seen a surge of foreign investment from different countries. We are, however, eager for our friends in Japan to realize the potentials and to come and invest more in Bangladesh.

Ladies and Gentlemen,

I call upon all of you present here to take this opportunity to interact and explore new areas of cooperation. I wish Japan Trade Show-2005 all success.

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