Speakers at a seminar have expressed hope to sign an economic partnership agreement (EPA) between Japan and Bangladesh by the end of 2025 or early 2026 before Bangladesh's graduation from the LDC status.
They have also laid importance on starting negotiations on the EPA without delay to find out sectors and products to benefit from it by the two countries.
The seminar on EPA, held at the Japanese Embassy on Thursday, was attended by Ambassador Iwama Kiminori as chief guest and head of the FTA Wing of Ministry of Commerce Noor Md Mahbubul Haq and Executive Member of the Bangladesh Investment Authority (BIDA) Avijit Chowdhury as special guest.
The Japan-Bangladesh Chamber of Commerce and Industry (JBCCI) in collaboration with Japan External Trade Organisation (JETRO) and (Japanese Commerce and Industry Association in Dhaka (JCIAD) and Embassy of Japan organised the seminar.
Chairman of the Policy Exchange of Bangladesh Dr M Masrur Reaz presented a keynote paper in the seminar highlighting benefits and challenges of the EPA for both the countries.
The keynoter also shared possible products and sectors to reap the benefits of the EPA through bilateral and foreign direct investment context of the two countries.
Country Representative of JETRO Dhaka Yuji Ando also shared historical overview of the EPA and its significance.
Representatives from the JBCCI, JETRO, JCIAD and the commerce ministry shared their views on the EPA based on the presentations.
Chairman of the EPA Standing Committee of JBCCI Asif A Chowdhury moderated the session.
JBCCI president Myungho Lee, executive director Md Emran and general secretary Anwar Shahid also spoke on the occasion.
The speakers highlighted the importance of EPA as a vehicle to secure duty-free market access for Bangladesh after its graduation from LDC in 2026.
They informed that the JBCCI has formed a standing committee focusing on the EPA to extend support and facilitate its activities in different stages.
The JBCCI president laid importance of starting negotiations on the EPA as it needs time to come to terms from both sides of private sectors.
Noor Md Mahbubul Haq, additional secretary of the commerce ministry, shared the government's perspective on the EPA and its implications for Bangladesh's trade policy.
He also underscored the government's focus on promoting product diversification, reducing tariffs, and facilitating trade to maximise the benefits of the EPA for Bangladesh's economy and businesses.
smunima@yahoo.com