Bangladesh-Japan

Representational image

EPA to be signed with Japan within next year

Commerce Ministry Senior Secretary Tapan Kanti Ghosh said this in a press conference held at the Secretariat on Wednesday. A joint press conference was organized to mark the release of the Joint Study Group report on the proposed Economic Partnership Agreement between Bangladesh and Japan. Japanese Ambassador Iwama Kiminori spoke at the press conference.

Referring to Japan as the world's third largest economy and an important commercial partner of Bangladesh, the Commerce Secretary said, 'For the first time we are going to enter into such an economic agreement with a large economy country. If the EPA is signed with Japan, we will not only get duty-free market facilities, but also get foreign investment, industrial infrastructure and join the global supply chain.

Regarding the final signing of the EPA with Japan, he said, "I don't see any complications regarding the signing of the EPA. We are very optimistic. Since we will pass the LDC in 2026, the EPA will be signed by December 2025 or January 2026. As Japan has FTAs with various countries and has investments in many countries, the EPA will create new opportunities for us to join the global supply chain."

Tapan Kanti Ghosh said, "We have been getting duty-free facilities for exporting products to Japan and will get them till 2026. Last year, Japan's export growth was 45 percent, higher than any developed country. Apart from goods, there is a possibility of developing Bangladesh's relations with Japan in the service and investment sectors as well."

Expressing hope that this possibility will be made a reality if the EPA is signed, he said that during Prime Minister Sheikh Hasina's visit to Japan in April this year, it was decided to promote bilateral relations between the two countries as a 'strategic partnership'.