Sheikh Hasina’s Japan visit is a success story of economic diplomacy
Prime Minister Sheikh Hasina and Sinzo Abe, Photo: collected
Dhaka (Barta24.com): Prime Minister Sheikh Hasina reached Japan on last May 28 in the first leg of her 12 day tour of Japan, Saudi Arabia and Finland. The object of her Japan visit was to join the summit of Future Asia, but in real sense it was a bilateral tour.
Lastly in 2016 after the visit by Prime Minister Sheikh Hasina to Japan and the return visit by her Japanese counter part Sinzo Abe in September of the same year demonstrated the matter of economic diplomacy. The visit of Sinzo Abe was within such short time was so important that became was considered as economic diplomacy. Japan is one of those few countries who are patronizing liberal economy in this modern politico- economic world. So the policy of economic diplomacy is always occupies the core policy of Japan.
The importance of this visit of Sheikh Hasina lies in the fact that on her second day of the visit in the continuity of bilateral relations the signing of the 2.5 billion dollar Official Development Assistant (ODA) agreement which is about more than Taka 22 thousand crore. Under the agreement the development of Matarbari sea port project, Dhaka Mass Rapid Transit development project, the project to assist foreign investment, the project to enhance energy and protection project and Matarbari ultra super critical coal power will be financed.
Of the projects the approval of two new projects and financing of the on going three projects proved that in the coming days Japan is interested to work more closely.
Another important feature of this visit is that Sheikh Hasina has got full assurances of Japan in solving the long standing problem of the Rohingya refugees. At the very beginning of this crisis Japan was hesitating to lend its support to Bangladesh cause. In the UN general assembly and in Human Rights Commission meetings when majority countries supported Bangladesh cause, Japan kept silence on the issue. Only in last January when the Japanese foreign minister on his visit to Myanmar told the government that the Myanmar government that it should not be proper to treat the Rohingyas step motherly attitude.
In recent time the economic relations between Japan and India has reached a new height. Though their relations began since Meiji rule but the role of India in the reconstruction of Japanese industries was very important after the II world war. The raw materials of India worked as main source of Japan’s industrial units. However the role of Sinzo Abe is very much important for developing Bangladesh- Japan and India-Japan relations.
If we analyze the present Japan-India relations then it is evident that Japan is going to get an important business partner like India.
In India where there is a very large population regarded as the driving force of development was overcome by the big Japanese investment there. Their bilateral relations took a new turn during the regime of Narendra Modi. After Modi got the highest popular mandate of the people in the just concluded election now Japan want to build a new strong economic ring in Asia with Japan, India and Bangladesh.
The increasing economic expansion of China, the historical conflict between China and Japan and present trade war of China with the USA has brought a golden opportunity for Japan to increase her economic diplomatic capability. In this case the political stability now prevailing in Bangladesh, investment friendly environment would help the Japanese investors as evident in the recently signed pacts.
Meanwhile it has become clear that so long China has built their economy on a strong footing taking the facilities of cheap labor, though Japanese investment was there largely. But with the mass industrial expansion of China has made the Japanese products costly making an adverse impact in the Japanese economy. Under this situation Japan is now tilting towards South Asia. The advantage of Japan in Bangladesh is that the labor is less costly than India. So Japan is trying to build up special economic zones here in Bangladesh. Bangladesh is also interested in the matter. So we can expect that the visit of Prime Minister Sheikh Hasina to Japan has signaled the mass Japanese investment in this country.
