Bangladesh set to sign first EPA with Japan

The country is likely to sign its first Economic Partnership Agreement (EPA) with Japan, under which 97 per cent of Bangladeshi goods, including readymade garments, will receive duty-free access to the Japanese market.

Advisor to the Ministry of Commerce Sheikh Basir Uddin disclosed the information at a press conference held at the ministry’s conference room on Monday.

He said the EPA negotiations have concluded and the draft agreement has been finalised following a telephone conversation with Japanese Foreign Minister Motegi Toshimitsu prior to the press conference. If signed, this will be Bangladesh’s first EPA or free trade agreement, which he hopes will pave the way for more such agreements in the coming years.

Special Envoy to the Chief Adviser on International Affairs Lutfey Siddique, Executive Chairman of the Bangladesh Investment Development Authority (BIDA) Ashik Chowdhury, and Commerce Secretary Mahbubur Rahman were also present at the briefing.

The adviser said the draft EPA reflects the interests of both sides and was finalised through interactive negotiations between the two governments.

“The draft has been finalised after extensive discussions, and both sides have agreed in principle to sign the EPA by the end of January,” he told journalists.

smunima@yahoo.com