The governments of Bangladesh and Japan have taken a significant step towards boosting bilateral trade and investment by signing three memorandums of understanding (MoUs). 

The signing ceremony took place during a daylong summit in Dhaka titled ‘Bangladesh-Japan economic relations for the next 50 years: for the industry upgradation of Bangladesh.

The first MoU was signed between Bangladesh Special Economic Zone Ltd (BSEZ Ltd) and Bangladesh IRIS Co Ltd, a joint venture company promoting education for children in both countries. 

The agreement allows Bangladesh IRIS Co Ltd to purchase land within phase 2 of BSEZ and grants them the right to use it for their activities.

In line with this development, a second MoU was signed between BSEZ Ltd and Brac Kumon Ltd to provide educational opportunities to school-going children residing near the BSEZ areas.

The third MoU was signed between the commerce ministry of Bangladesh and the Japan External Trade Organisation (Jetro). 

This agreement focuses on promoting and exchanging trade-related information and aims to enhance the capacity of officials from both nations.

The summit was jointly organized by Jetro, the Bangladesh Investment Development Authority (Bida), and the Federation of Bangladesh Chambers of Commerce and Industry. 

The event, held at Pan Pacific Sonargaon in Dhaka, saw the participation of key figures from both governments and business sectors. 

The signing of these MoUs marks a significant milestone in strengthening economic ties between Bangladesh and Japan, paving the way for increased trade, investment, and cooperation in various sectors. 

As the two nations look ahead to the next 50 years, this move holds promise for developing and upgradation of Bangladesh’s industries.