Osaka: State Minister for Primary and Mass Education Bobby Hajjaj on Tuesday highlighted Bangladesh’s strategic geographic position as a gateway for Japanese investors to access a regional market of over 3 billion consumers. Hajjaj emphasized this unique opportunity during his address at the Bangladesh Investment Promotion Seminar in Osaka, an event jointly organised by the Japan External Trade Organization (JETRO), the Bangladesh Embassy in Japan, and the Osaka Chamber of Commerce and Industry.
According to United News of Bangladesh, the state minister underscored the progress on the Economic Partnership Agreement (EPA) between Bangladesh and Japan, as well as the creation of a special economic zone dedicated to Japanese investors. These initiatives are expected to significantly enhance bilateral economic ties, fostering a more conducive environment for Japanese investments.
Drawing parallels to Japan’s Meiji Restoration, Hajjaj described it as a model of national transformation through education, technology, industrialisation, and visionary leadership. He expressed Bangladesh’s intent to emulate this developmental path, leveraging Japan’s experience in knowledge, technology, innovation, productivity, and skilled human resource growth.
Hajjaj detailed the current state of Bangladesh’s economy, which boasts over $500 billion in size and has consistently maintained a growth rate surpassing 6 percent, even in the face of global economic challenges. The government’s ambitious target is to transform Bangladesh into a $1 trillion economy by 2034.
Emphasizing the nation’s competitive advantage, Hajjaj pointed to Bangladesh’s youthful workforce, comprising over 70 million individuals. He noted that with per capita income surpassing $3,000, the domestic market is expanding rapidly, thus enhancing purchasing power and creating new investment opportunities.
Hajjaj revealed that the bilateral trade volume between Bangladesh and Japan currently stands at approximately $3.5 billion, with aspirations to increase it to $10 billion in the near future. He identified key sectors for Japanese investment, including machinery and light engineering, industrial components, automobile and EV parts, electronics, pharmaceuticals, and more.
He also highlighted the potential for collaboration in education technology and skills development with organisations like Artec. Furthermore, Hajjaj pointed to the promising prospects for cooperation in education, healthcare, and medical tourism, where Bangladesh’s young and skilled workforce could help address Japan’s labor shortages and aging population.
Acknowledging Japan’s longstanding role as a trusted development partner, particularly through JICA, Hajjaj expressed gratitude for Japan’s contributions to Bangladesh’s infrastructure, education, and economic progress. He urged Japanese businesses and investors to become long-term partners in Bangladesh’s growth, offering not just market entry but strategic access to a vast regional market.