Japan wins order to produce Bangladesh coins

The Japanese minting authorities won a contract to mint coins worth some 12 million U.S. dollars for Bangladesh as the two countries mark the 40th anniversary of their diplomatic relations, local press reported on Tuesday. Japan Mint produced commemorative coins for New Zealand and Sri Lanka in the past but it won an order for a regular foreign currency for the first time since the end of the Second World War, according to the country's public broadcaster Nippon Hoso Kyokai ( NHK). The broadcaster said the Osaka-based state-affiliated firm will produce a total of 500 million "2 Taka" coins at a factory in Osaka, for delivery to Bangladesh between April and August next year. Minting in Japan is on the decline due to the rising popularity of electronic money, the report added. Japanese Finance Minister Koriki Jojima, meanwhile, told reporters that the minting contract will contribute to the further development of bilateral ties, and he hoped Japan could win more orders from other Asian countries.