‎Bangladesh set to Economic Partnership Agreement with Japan next month

ফাইল ছবি

Staff Correspondent: Bangladesh is set to sign the Economic Partnership Agreement (EPA) with Japan next month to increase economic engagement, policy-makers, diplomats and business leaders in Dhaka and Tokyo said.
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‎Sources said Commerce Adviser Sk Bashir Uddin has instructed the stakeholders concerned to complete the necessary ground works before signing Economic Partnership Agreement (EPA) with Japan next month
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‎The national election of Bangladesh is likely to be held in early February and the interim government is interested to sign EPA with Japanese government to show a success story in economic negotiation.
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‎Bureaucrats, policy makers and business leaders of both countries are looking at the pros and cons of the matter and the sensitivities of the product-lists, sources said. 
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‎Japan Ambassador in Dhaka SAIDA Shinichi said that Japan is eager to sign the Economic Partnership Agreement (EPA) with Bangladesh soon to increase economic engagement.
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‎SAIDA Shinichi was speaking at the 20th annual general meeting of the Japan-Bangladesh Chamber of Commerce and Industry (JBCCI) at Lake Shore Hotel in the city this week.
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‎He also said that the interim government of Bangladesh has steadily advancing its economic policies. “We particularly appreciate its macro-economic policy to address forex issue and curb inflation. Since 1971, the government of Japan holds these efforts in high regard and remains committed to deepening our cooperation,” he said.
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‎“As a faithful development partner, Japan stands ready to fully support Bangladesh's economic growth, progress in its democracy through peaceful and fair elections and a series of reform efforts. Anchored in the Strategic Partnership between our nations, we are convinced that it is vital to stand with the people of Bangladesh during this historic period of transition”
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‎He also said that the Economic Partnership Agreement (EPA) currently under negotiation will establish a new foundation for our bilateral relations, especially as Bangladesh approaches its graduation from LDC status in 2026.
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‎In light of this changing environment, the perception of Bangladesh among Japanese companies has been shifting from simply a recipient of development assistance to a promising investment destination and a key business partner Attracted by its steady economic growth, a large market of approximately 170 million people, and a young efficient workforce, Japanese companies are increasingly exploring opportunities for entry and expansion into various fields, including the business-to-consumer (B to C) sector. The government of Japan remains committed to providing the necessary support and promoting dialogue for further improve went of the business environment.
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‎He also said that Japan-Bangladesh Chamber of Commerce and Industry (JBCCI) plays a vital role in bridging the business communities of two nations. He also said “We expect the Chamber to continue playing a central role in deepening mutual understanding and forging sustainable partnerships built on a foundation of mutual respect. Furthermore, as a binational chamber representing the interests of both Japanese and Bangladeshi businesses, we trust that JBCCI will maintain a balanced and constructive stance in all its activities.
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‎Meanwhile, Bangladesh Ambassador in Tokyo Md. Daud Ali in a message said that two nations are also closely working to finalize an Economic Partnership Agreement (EPA) to take the bilateral relationship to a new height hopefully by early 2026”
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‎“Our economic relations nave grown steadily supported by Japan's long-standing commitment to Bangladesh's socio-economic progress and our own efforts to create a stable, competitive and business-friendly environment,” said Md. Daud Ali.
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‎“He also said that two nations are also closely working to finalize an Economic Partnership Agreement (EPA) to take the bilateral relationship to a new height hopefully by early 2026”
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‎Meanwhile, the interim government successfully negotiated with the US government in reducing the high tariffs on Bangladeshi goods in recent times.
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‎Business leaders of both counties are expecting a jump in economic engagement after signing CPA.  
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‎According to EPB data, bilateral trade between Bangladesh and Japan has reached $3.12 billion in FY2023-24, with imports and exports amounting to $1.81 billion and $ 1.31 billion, respectively. Japan is the 12th largest export destination and 9th largest import source, and 11th largest source of FDI stock for Bangladesh.
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‎Tareq Rafi bhuiyan (jun), President of the Japan-Bangladesh Chamber of Commerce and Industry  (JBCCI), while talking to this correspondent said that Bangladesh is expecting to sign Economic Partnership Agreement (EPA) with Japan within shortly. Tareq Rafi bhuiyan (jun) is the Managing Director of  New Vision Solutions Ltd.
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‎NewVision Solutions Ltd is a leading management consulting and market research company in Bangladesh. Their multinational and experienced staffs provide world-class professional services to local and reputed international clients. Additionally, they support and facilitate foreign investments, providing companies with business solutions to establish and operate in Bangladesh.
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‎The eighth round of talks, held in October, through zoom meeting, gave some hints that
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‎the prospects of signing Economic Partnership Agreement (EPA) between Bangladesh and Japan, sources in Dhaka and Tokyo said.‎
‎Dr Mostafa Abid Khan, a former member of Bangladesh Trade and Tariff Commission, said that Bangladesh held the eighth round of talks on Economic Partnership Agreement (EPA) in October through zoom meeting.  Meanwhile, Bangladesh only signed EPA with Bhutan earlier.
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‎Meanwhile, Japanese Ambassador to Bangladesh Saida Shinichi expressed hope that an Economic Partnership Agreement (EPA) would be signed between the two countries soon.
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‎The 7th meeting regarding the EPA between Bangladesh and Japan was held from 3-12 September in Tokyo.
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‎"This partnership will open up a new window of opportunities for the economy of both countries," he said during a bilateral meeting with Taskeen Ahmed, president of Dhaka Chamber of Commerce & Industry (DCCI) at the city's DCCI Gulshan Center on September 16.
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‎During the meeting, the ambassador said that Bangladesh holds enormous potential for business, trade, and investment. "However, to harness these potentials, diversification of the overall industrial structure as well as efficiency and accountability in public service are also crucial," he added.
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‎Shinichi noted that Bangladesh's domestic market is steadily expanding, and considering the existing investment facilities, Japanese entrepreneurs are likely to increase their investments here.
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‎He further mentioned that there is an ample opportunity for Bangladesh's skilled IT professionals to collaborate with and contribute to Japan's advanced technology sector, fostering mutual benefits for both countries.
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‎DCCI President Taskeen Ahmed said Bangladesh has a longstanding partnership with Japan, and their contribution to Bangladesh's economic progress, particularly in infrastructure development, bilateral trade, and investment, is indisputable.
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‎The DCCI president also mentioned that Japanese entrepreneurs have already invested $507.14 million in different sectors like fertiliser, construction, textiles, power, gas, and petroleum, though Japan's total global foreign investment is $ 184.02 billion.
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‎He urged Japanese investors to enjoy the various facilities Bangladesh is offering to foreign investors.
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‎Taskeen further stressed on Japanese technical and technological cooperation in areas such as automobiles, machinery, electrical equipment, agro-processing, agricultural logistics, jute and footwear, ICT, infrastructure development, logistics management, and skilled manpower development.
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‎In particular, he called upon Japan to support Bangladesh's growing SME sector so that it can utilise its full potential and expand export markets for its products.
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‎DCCI Senior Vice President Razeev H Chowdhury and Vice President Salem Sulaiman were also present at the meeting.
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‎Meanwhile, the meeting was attended by, on the Japanese side, KOBAYASHI Izuru, Deputy Director-General and Ambassador in charge of Economic Diplomacy, Economic Affairs Bureau of Ministry of Foreign Affairs, and representatives of other relevant ministries, and on the Bangladesh side, Ms. Ayesha Akther, Additional Secretary, Head of Foreign Trade Agreement Wing, Ministry of Commerce, People’s Republic of Bangladesh, and representatives of other relevant ministries held on September 3-12, 2205
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‎In this round of negotiations, both sides had fruitful discussions on the way forward for future negotiations and on negotiating areas such as Trade in Goods, Rules of Origin, Trade in Services, Investment, Electronic Commerce, and Intellectual Property.
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‎Both sides decided to coordinate the upcoming detailed schedule of negotiations through diplomatic channe
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‎Meanwhile, the  sixth round of negotiations for the Japan-Bangladesh Economic Partnership Agreement (EPA) was held in Dhaka, Bangladesh, (hybrid format) from June 21 to 26, 2025.
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‎The meeting was attended by, on the Japanese side, Mr. KOBAYASHI Izuru, Deputy Director-General, Ambassador in charge of Economic Diplomacy, Economic Affairs Bureau of Ministry of Foreign Affairs, and representatives of other relevant ministries, and on the Bangladesh side, Ms. Ayesha Akther, Additional Secretary, Head of Foreign Trade Agreement Wing, Ministry of Commerce, Bangladesh, and representatives of other relevant ministries.
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‎In this round of negotiations, both sides had fruitful discussions on the way forward for future negotiations and on negotiating areas such as Trade in Goods, Rules of Origin, Customs Procedures and Trade Facilitation, Trade in services, Investment, Electronic Commerce, and Intellectual Property.
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‎ Both sides decided to work on scheduling the dates of the seventh round of negotiations through diplomatic channels.
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‎Meanwhile, the fifth round of negotiations for the Japan-Bangladesh Economic Partnership Agreement (EPA) was held in Tokyo (hybrid format), from April 20 to 26, 2025.
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‎The meeting was attended by, on the Japanese side, KOBAYASHI Izuru, Deputy Director-General, Ambassador in charge of Economic Diplomacy, Economic Affairs Bureau of Ministry of Foreign Affairs, and representatives of other relevant ministries, and on the Bangladesh side, Ms. Ayesha Akther, Additional Secretary, Head of Foreign Trade Agreement Wing, Ministry of Commerce, Bangladesh, and representatives of other relevant ministries.
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‎In this round of negotiations, both sides had a fruitful discussion on the way forward for future negotiations and on negotiating areas such as Trade in Goods, Rules of Origin, Customs Procedures and Trade Facilitation, Trade in Services, Investment, Electronic Commerce, and Intellectual Property.
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‎Both sides decided to work on scheduling the dates for the sixth round of negotiations through diplomatic channels.
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‎Meanwhile, the fourth round of negotiations for the Japan-Bangladesh Economic Partnership Agreement (EPA) was held in Dhaka, Bangladesh (hybrid format), from February 2 to 6, 2025.
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‎The meeting was attended by, on the Japanese side, KOBAYASHI Izuru, Deputy Director-General, Economic Affairs Bureau of Ministry of Foreign Affairs, and representatives from other relevant ministries, and on the Bangladesh side, Ms. Ayesha Akther, Additional Secretary, Head of Foreign Trade Agreement Wing, Ministry of Commerce, Bangladesh, and representatives from other relevant ministries.
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‎In this round of negotiations, both sides had a fruitful discussion on the way forward for future negotiations and on negotiating areas such as Trade in Goods, Rules of Origin, Customs Procedures and Trade Facilitation, Trade in Services, Investment, Electronic Commerce and Intellectual Property.
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‎Both sides decided to work on scheduling the dates of the fifth round of negotiations through diplomatic channels.
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‎Meanwhile, the third round of negotiations for the Japan-Bangladesh Economic Partnership Agreement (EPA) was held in Tokyo (hybrid format) from December 19 to 20, 2024.
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‎The meeting was attended by, on the Japanese side, KOBAYASHI Izuru, Deputy Director-General, Economic Affairs Bureau of Ministry of Foreign Affairs, and representatives from other relevant ministries, and on the Bangladesh side, Ayesha Akther, Additional Secretary, Head of Foreign Trade Wing, Ministry of Commerce, Bangladesh, and representatives from other relevant ministries.
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‎In this round of negotiations, both sides had a fruitful discussion on negotiating areas such as Rules of Origin, Customs Procedures and Trade Facilitation, Investment, and Intellectual Property.
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‎Meanwhile the second round of negotiations for the Japan-Bangladesh Economic Partnership Agreement (EPA) was held in Dhaka Bangladesh (hybrid format) from November 10 to 14, 2024.
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‎The meeting was attended by, on the Japanese side, Mr. KOBAYASHI Izuru, Deputy Director-General, Economic Affairs Bureau of Ministry of Foreign Affairs, and representatives from other relevant ministries, and on the Bangladesh side, Ms. Ayesha Akther, Additional Secretary, Head of Foreign Trade Wing, Ministry of Commerce, Bangladesh and representatives from other relevant ministries.
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‎In this round of negotiations, both sides had a fruitful discussion on the way forward for future negotiations and on negotiating areas such as Trade in Goods, Rules of Origin, Customs Procedures and Trade Facilitation Trade in services, Investment and Intellectual Property.
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‎Both sides decided to work on scheduling the dates of the third round of negotiations through diplomatic channels.
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‎Meanwhile, the government of Japan and the government of Bangladesh decided to launch the negotiations for Japan-Bangladesh Economic Partnership Agreement (EPA).
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‎The decision is based on the recommendation in the report of the Joint Study Group on the Possibility of an EPA between Japan and Bangladesh (released in December 2023), which summarizes the discussions and outcomes of the Joint Study Group held in 2023.The report recommends that the negotiations for the conclusion of an EPA between Japan and Bangladesh be launched, as the conclusion of a comprehensive and high-level EPA between Japan and Bangladesh will contribute to the strengthening of economic relations, including the expansion of trade and investment between the two countries.
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‎The government of Japan and the government of Bangladesh launched the negotiations for Japan-Bangladesh Economic Partnership Agreement (EPA) on March 12, 2024
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‎The decision was based on the recommendation in the report of the Joint Study Group on the Possibility of an EPA between Japan and Bangladesh (released in December 2023), which summarizes the discussions and outcomes of the Joint Study Group held in 2023.
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‎The report recommends that the negotiations for the conclusion of an EPA between Japan and Bangladesh be launched, as the conclusion of a comprehensive and high-level EPA between Japan and Bangladesh will contribute to the strengthening of economic relations, including the expansion of trade and investment between the two countries.