Bangladesh and Japan Sign Landmark Economic Partnership Agreement in Tokyo

Marking a historic milestone in bilateral relations, Bangladesh and Japan today officially signed an Economic Partnership Agreement (EPA) in Tokyo.

According to a press release received in Dhaka, this is the first time Bangladesh has signed an Economic Partnership Agreement with any country.

The agreement was signed on behalf of their respective governments by Commerce Adviser Sheikh Bashir Uddin and Japan’s State Minister for Foreign Affairs, Hori Iwao, at a formal ceremony held at the Japanese Ministry of Foreign Affairs.

The signing ceremony was attended by Commerce Secretary Mahbubur Rahman, Bangladesh Ambassador to Japan Md. Daud Ali, Japanese Ambassador to Bangladesh Saida Shinichi, along with senior officials from both countries.

The EPA is the outcome of seven rounds of negotiations held in Dhaka and Tokyo, covering trade in goods and services, investment, and economic cooperation.

Describing the agreement as a reflection of the long-standing friendship between the two nations, Sheikh Bashir Uddin said the EPA is not merely a trade document but also a symbol of Bangladesh’s promising economic future and the deep mutual trust between the two countries. He added that its effective implementation would usher in a new chapter of shared prosperity.

Under the agreement, Bangladesh will receive significant benefits in both goods and services trade. Approximately 7,379 Bangladeshi products, including readymade garments, will enjoy 100 percent duty-free access to the Japanese market. In return, Bangladesh will expand market access for Japan, allowing 1,039 Japanese products to receive duty-free or preferential tariff treatment in phases.

Notably, the inclusion of the “single-stage transformation” facility for the apparel sector will allow Bangladeshi garments to be exported to Japan more easily without complex conditions related to raw material sourcing.

In addition, the agreement will open opportunities for Bangladeshi skilled professionals to work in Japan across 120 service subsectors under 16 categories, including IT, engineering, education, caregiving, and nursing, thereby creating greater employment opportunities for Bangladeshis.

On the other hand, Bangladesh has agreed to open 98 sub-sectors under 12 service categories for Japan.

Beyond increasing trade volumes, the EPA is expected to boost Japanese foreign direct investment (FDI) in key sectors such as manufacturing, infrastructure, energy, and logistics. Japanese advanced technology and investment are anticipated to enhance the quality of Bangladeshi products, making the country more competitive in the global market.

Moreover, by promoting the development of small and medium enterprises (SMEs) and fostering a skilled workforce, the agreement is expected to drive inclusive economic growth and serve as a strong instrument for Bangladesh’s overall socio-economic development.