Bilateral trade between Bangladesh and Japan will reach $20 billion by 2030 from more than $3 billion at present as apparel shipments to the far eastern country are rising fast, according to Ito Naoki, Japan's ambassador to Bangladesh.

Garment exports from Bangladesh to Japan totalled $1.10 billion in the last fiscal year and it is expected that shipments will rise 10-fold to reach $10 billion by 2030, Naoki said.

At the same time, Bangladesh's imports from Japan will increase five-fold to reach $10 billion and as such, the bilateral trade volume will cross $20 billion, indicating growth in recent years.

For instance, the number of Japanese companies in Bangladesh tripled over the last 10 years to hit 338 in 2022, and most of them are desperate to expand their business in the country.

Naoki was speaking at the 17th annual general meeting of the Japan-Bangladesh Chamber of Commerce and Industry (JBCCI) at Lakeshore Hotel in Dhaka today.