Prime minister Tarique Rahman on Monday urged Japanese investment in modernising the Karnaphuli Fertilizer Company Limited and exploring the feasibility of setting up a second fertiliser plant in Bangladesh.

He made the call during a meeting with Marubeni Corporation chairman Masumi Kakinoki, who is also president of the Japan-Bangladesh Committee for Commercial and Economic Cooperation, in Japan at 3:45pm local time, according to an official statement.

Tarique Rahman began a four-day visit to Japan today. During the visit, he is scheduled to meet Japanese prime minister Sanae Takaichi, sign several MoUs and trade and investment.

During the meeting with Marubeni chief, he also called for greater Japanese investment in information and communication technology, renewable energy and advanced manufacturing, saying that foreign direct investment and public-private partnerships could open up opportunities in these sectors.

Tarique Rahman stressed the need to strengthen economic ties between Bangladesh and Japan and praised Kakinoki’s role in promoting bilateral trade and economic cooperation, as well as expanding Japanese investment in Bangladesh.

Kakinoki said that effective implementation of the Economic Partnership Agreement signed between the two countries in February this year could help increase bilateral trade, attract more Japanese investment and create new business opportunities.

The prime minister said Bangladesh government was committed to creating an investment-friendly environment by reforming regulations, simplifying investment approval procedures and expanding public-private partnerships to facilitate Japanese businesses in Bangladesh.

Finance and planning minister Amir Khasru Mahmud Chowdhury, civil aviation and tourism minister M Rashiduzzaman Millat, prime minister’s adviser on finance and planning Rashed Al Mahmud Titumir, state minister for foreign affairs Humaiun Kobir and state minister for power, energy and mineral resources Anindya Islam Amit were present at the meeting.

On October 11, a delegation led by Marubeni Corporation president and chief executive officer Masayuki Omoto also met Tarique Rahman in Dhaka.

Their discussions covered potential cooperation in information technology, artificial intelligence, cybersecurity, fertilisers and energy, as well as increased Japanese investment in Bangladesh.

Earlier today, a high-level delegation of the Japan-Bangladesh Parliamentary Friendship League paid a courtesy call on prime minister Tarique Rahman.

The delegation, led by JBPFL president and former Japanese prime minister Taro Aso, met the Bangladesh prime minister at 3:00pm local time .

Tarique Rahman thanked Aso for his continued contributions to strengthening friendly relations between the two countries through his leadership of the parliamentary friendship league.

Highlighting bilateral relations, Aso said a large proportion of Bangladesh’s population was young and that the country’s current political stability had created a favourable environment for investment. Japanese companies were highly interested in investing in Bangladesh, he said.

In the context of the Economic Partnership Agreement (EPA) between Bangladesh and Japan, the prime minister sought Aso’s cooperation in increasing Japanese investment in Bangladesh, expanding bilateral trade and strengthening technology transfer.

He also expressed hope for Japan’s continued cooperation in implementing Bangladesh’s development priorities and developing a skilled workforce.