Bangladesh to be benefited if EPA signed with Japan: Commerce Secy

Commerce Secretary Tapan Kanti Ghosh has expressed his optimism, saying that Bangladesh would yield benefits significantly if the proposed Economic Partnership Agreement (EPA) is signed between Bangladesh and Japan.

“I am optimistic about the economic partnership agreement to be signed, either by December 2025 or January 2026, between the two countries,” Ghosh said at a joint press conference at the commerce ministry on the occasion of releasing the report prepared by the Joint Study Group on implementation of the EPA between Bangladesh and Japan on Wednesday.

Japanese Ambassador to Bangladesh IWAMA Kiminori was also present at the press conference.

Claiming that Japan is the world's third-largest economy and an important trade partner of Bangladesh, he said Bangladesh is strategically a potential place to expand trade and commerce between both countries.

There is a potential for enhancing Bangladesh's relationship with Japan in the service and investment sectors, he said.

“We have been benefiting from duty-free facilities for our exported goods to Japan, and these privileges will continue until 2026,” said the commerce secretary.

Bangladesh earned a remarkable 45 percent export growth in Japan last year, marking the highest rate among any developed country. And Japanese investment in Bangladesh will increase alongside the infrastructural development if the EPA is signed between the two countries, he said.

In response to a query, he said with a view to finalise the agreement, the two countries have announced to start a joint feasibility study and a report, prepared after three rounds of meetings in this regard, was released today, he said.

The government has undertaken the 8th five-year plan to address the upcoming challenges after Bangladesh's LDC graduation, he said.

The Ministry of Commerce has undertaken various initiatives to reach regional trade agreements with strategically important countries and trade blocs, Ghosh said adding that the objective is to broaden Bangladesh's export market and secure duty-free access for its products in various countries.