B Mirror Report: Commerce Adviser Sk. Bashir Uddin today announced a major breakthrough in Bangladesh–Japan trade relations, revealing that Bangladesh will enjoy duty-free market access for 99.9 percent of its products under a newly signed Economic Partnership Agreement (EPA) with Japan.
He said that of the total 7,389 tariff lines, Bangladesh would be able to export nearly all products to Japan at zero duty, a development expected to significantly strengthen the country’s export earnings as it moves toward graduation from Least Developed Country (LDC) status.
The Commerce Adviser made the remarks while addressing a press conference at the Ministry of Commerce in the capital.
Highlighting the pace of the negotiations, Bashir Uddin noted that while similar agreements took neighboring countries 15 to 20 years to finalize, Bangladesh successfully completed the process within just one year.
In exchange, he said, Bangladesh has granted duty-free access to 1,070 Japanese products. He explained that the revenue impact of this concession would be minimal less than Tk 20 crore annually since many of the items, including food products, yarn, and machinery, are already subject to zero or low duties.
For sensitive sectors, the agreement includes a transition period of up to 18 years, allowing domestic industries adequate time to build capacity and remain competitive in line with World Trade Organization (WTO) rules, he added.
Describing the EPA as a comprehensive and high-standard bilateral agreement, the adviser said it goes beyond trade in goods to cover services and investment. Under the agreement, Japan has opened 120 sectors to Bangladesh, while Bangladesh has opened 92 sectors to Japan.
He further said the agreement would create vast employment opportunities for Bangladeshi professionals, noting Japan’s growing demand for nurses, caregivers, engineers, doctors, and industrial workers due to its aging population.
To meet Japanese requirements, Bashir Uddin said several language institutes are being set up in Bangladesh to help workers and students obtain necessary certifications for employment in Japan.
The adviser emphasized that the EPA marks an important step toward trade liberalization, which will ultimately benefit consumers. By opening markets and encouraging Japanese investment, the government aims to promote technology transfer and generate large-scale domestic employment, he added.
He concluded by commending the negotiating team for securing what he termed a historic opportunity that opens a new horizon for Bangladesh’s economy. Commerce Secretary Mahbubur Rahman, among others, also spoke at the briefing.
Earlier, Bangladesh and Japan officially signed the EPA in Tokyo on Friday, marking the first such agreement signed by Bangladesh with any country. The agreement was signed at Japan’s Ministry of Foreign Affairs by Commerce Adviser Sheikh Bashir Uddin on behalf of Bangladesh and HORII Iwao, Japan’s State Minister for Foreign Affairs.
The final agreement follows seven rounds of negotiations held in Dhaka and Tokyo, covering trade in goods and services, investment, and economic cooperation.
The EPA is expected to boost Japanese foreign direct investment (FDI) in Bangladesh, particularly in manufacturing, infrastructure, energy, and logistics. The inflow of advanced Japanese technology and investment is also expected to enhance product quality and global competitiveness.
Additionally, the agreement is seen as a catalyst for inclusive economic growth, supporting the development of small and medium enterprises (SMEs) and the creation of a skilled workforce, contributing to Bangladesh’s overall socio-economic development.
