Japan proposes industrial hub in Bangladesh
Japan has proposed developing an industrial hub in Bangladesh with supply chains to the landlocked northeastern states of India, and to Nepal and Bhutan beyond by developing a port and transport in the region, officials said on Tuesday.
It comes after Japanese Premier Fumio Kishida's visit to India previous month in which he touted the idea of a new industrial hub for the Bay of Bengal and northeast India that could bolster development in the impoverished region of 300 million people.
After Japanese Prime Minister's visit, his government approved 1.27 billion US dollar in funding to Bangladesh for three infrastructure projects- including a new commercial port in the Matarbari area with links to adjacent landlocked Indian states, including Tripura, and wider international markets.
'It can be a win-win plan for India and Bangladesh,' Hiroshi Suzuki, Japan's envoy to India, said on Tuesday, citing the industrial hub proposal at a meeting of Indian, Bangladeshi and Japanese officials in Agartala, the Tripura state capital.
Ambassador said the deep seaport was likely to become operational by 2027 and would be a key to building an industrial hub connecting the Bangladeshi capital Dhaka to landlocked areas of India.
The envisaged Matarbari project would be Bangladesh's first deep-sea port capable of hosting large vessels.
India and Japan have jointly developed infrastructure projects across Bangladesh, Sri Lanka and Africa as an alternative to China's multibillion-dollar Belt and Road Initiative in order to counter spreading Chinese influence.
Ambassador Suzuki said that more than 300 Japanese companies were already operating in Bangladesh. Both nations are expected to sign an economic partnership agreement soon that could further boost manufacturing and attract more foreign companies.
Bangladesh's Premier Sheikh Hasina will visit Japan from April 25-28 at Kishida's invitation, a government statement said.
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