Bangladesh-Japan EPA signing, more than 7 thousand Bangladeshi products will get duty-free benefits

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News Desk: Historic Economic Partnership Agreement (EPA) signed between Bangladesh and Japan. As a result, 7 thousand 379 Bangladeshi products will get duty-free access to Japan. The agreement was signed on Friday (February 6) in Tokyo, the capital of Japan.

This bilateral agreement was signed after 7 points of discussion. Commerce Advisor Sheikh Bashir Uddin and Commerce Secretary Mahbubur Rahman were present on behalf of Bangladesh at the signing ceremony. This is the first EPA or Economic Partnership Agreement for Bangladesh.

As a result of the EPA agreement, Bangladesh will get duty-free export facilities for a large number of products, including garments, to the fourth largest economy in the world. In return, Bangladesh will have to provide duty-free access to 1039 products of Japan.  

As a result of this agreement, Japan will open 120 sub-sectors for Bangladeshi professionals. Besides, Bangladesh will open 97 sub-sectors for Japanese companies.

Notably, Bangladesh will pass from the list of LDCs or least developed countries at the end of this year. As a result, Bangladesh may be deprived of duty-free export facilities to various countries. Experts believe that EPA along with Japan has brought relief to Bangladeshi exporters.