Bangladesh eyes economic partnership with Japan by 2025

Bangladesh aims to forge an economic partnership with Japan by 2025 as the two countries look to strengthen their economic ties following Bangladesh’s expected graduation from its ‘least developed country’ status by 2026. 

Bangladesh’s senior secretary of its Commerce Ministry Tapan Kanti Ghosh announced that the country’s proposed economic partnership agreement with Japan is on schedule to be finalised by December 2025, Apparel Resources reported. The agreement is designed to ensure that Bangladesh retains duty-free access to the market in Japan beyond its expected graduation from ‘least developed country’ status the year after. 
 
The Bangladeshi Ministry of Commerce held a press conference in the country’s capital city Dhaka to reveal joint study group’s report on the proposed economic partnership agreement between the two nations. Bangladesh is keen to ink agreements before it graduates from ‘least developed country’ status as this status currently gives it preferential access to numerous export destinations. 

The Bangladeshi Ministry of Commerce also held a workshop titled ‘Economic Impact Assessment of Free Trade Agreement: Tools and Techniques’ at the end of December, it announced on Facebook. The country is keen to bolster its economic ties with other nations to boost exports of goods such as textiles and ready made garments.