Dhaka Bureau: Commerce Minister Tipu Munshi, MP said that Japan is one of Bangladesh’s trade and development partners. Japan has been supporting Bangladesh in various ways for the past 50 years. Japan is now Bangladesh’s major export market. The trade between the two countries is increasing day by day. Japan has many investments in Bangladesh. Recently, 1.5 billion dollars have been invested in Special Economic Zone in Arai Hazaar Upazila of Narayanganj District. Commerce Minister said, Bangladesh will graduate LDC in 2026. Trying to take advantage of free trade agreements with different countries.
Cooperation would be required by entering into free trade agreements such as Free Trade Agreement (FTA) or Economic Partnership Agreement (EPA) with Japan. That is why Bangladesh has taken the initiative to sign this free trade agreement with Japan. In the last fiscal year, Bangladesh exported goods worth US$ 1.354 billion to Japan, while importing goods worth US$ 2.410 billion during the same period. More than one billion Bangladeshi garments are being exported to the Japanese market. If free trade facilities are available in the future, this export will increase further.
The Minister of Commerce said this at a joint press conference on the initiation of a joint feasibility study for the signing of a Free Trade Agreement (FTA) or Economic Partnership Agreement (EPA) between Bangladesh and Japan today (December 12, 2022) at the conference room of the Ministry of Commerce at the Bangladesh Secretariat in Dhaka.
The Commerce Minister said that Bangladesh is moving forward rapidly under the leadership of Prime Minister Sheikh Hasina. Bangladesh is moving ahead in a planned manner to build a developed country by 2041. Bangladesh wants Japan by its side in this progress.
Outgoing Ambassador of Japan Ito Naoki said in a joint press conference that Japan’s economic and commercial relationship with Bangladesh is 50 years long. There is an opportunity for further trade growth, this opportunity should be exploited. Japan wants to further increase trade relations by signing Economic Partnership Agreement with Bangladesh. Japan will stand by Bangladesh’s development journey.
Earlier, Japanese Ambassador to Dhaka Ito Naoki had a farewell meeting with the Minister of Commerce. At this time, Senior Secretary of the Ministry of Commerce Tapan Kanti Ghosh, Additional Secretary (Export) of the Ministry of Commerce. Rahim was present.
