The agreement, whose text was finalised after seven rounds of negotiations, will ensure continued duty-free access of Bangladesh products to Japan after the country’s graduation from the least developed country (LDC) status this year.
Dhaka will soon sign the Bangladesh-Japan Economic Partnership Agreement to strengthen bilateral economic ties and expand trade and investment.
Upon entry into force, 7,379 products from Bangladesh will enjoy immediate duty-free access to the Japanese market from the first day of signing.
Bangladesh’s key export items, particularly readymade garments, will gain duty-free access to Japan from day one.
It covers trade in goods and services, customs duties, investment, trade facilitation and intellectual property rights.
Japan has expressed its intention to sign the agreement on February 6.
A Joint Study Group (JSG) published its report on December 27, 2023, recommending a comprehensive negotiation framework covering 17 sectors.
Upon entry into force, 7,379 products from Bangladesh will enjoy immediate duty-free access to the Japanese market from the first day of signing.
In return, Japan will receive immediate duty-free access for 1,039 products in Bangladesh.
Bangladesh’s key export items, particularly readymade garments, will gain duty-free access to Japan from day one, domestic media outlets in Bangladesh reported.
Fibre2Fashion (DS)
