The broadening bilateral strategic economic partnership of Bangladesh and Japan will attract more Japanese investment and innovation, encourage technology transfer and export diversification in Bangladesh, said Sameer Sattar, president of Dhaka Chamber of Commerce and Industry (DCCI).

The partnership will also create a positive linkage with overall business landscape of the country along with reaping the demographic dividend, he said today.

Japan can consider to invest in joint ventures and transfer technologies in various promising sectors, including agro-processing, shipbuilding, electronics, jute, energy sector, automobile, light-engineering industries, ICT in Hi-tech parks, 4IR technologies, and for development of SME and industrial skills, he said.

The Japan External Trade Organisation (JETRO) survey found that 68 per cent of Japanese companies in Bangladesh are planning to expand their businesses in Bangladesh, Sattar said in a statement.

Considering bilateral trade and investment exposure, Japan emerged as the eleventh largest export destination and seventh largest import sourcing country of Bangladesh, recording total bilateral trade to $3.79 billion in 2021-22 fiscal year.

On the other hand, Japan is the 12th largest source of foreign direct investment stock of Bangladesh with $457.98 million Japanese investment.