Japan agreed to relax rules for knitwear entry
Friday, 6 February 2015
Japan has agreed to relax the rules of origin for Bangladeshi knitwear products in its market which the Bangladesh government considers as its big achievement, reports UNB.
"Japan in principle has agreed to relax the rules of origin for Bangladesh. The modalities on it will be worked out now. We think it's a big announcement," Foreign Secretary M Shahidul Haque told reporters at the ministry.
He came up with the decision after the first-ever Foreign Office Consultations (FOC) between Bangladesh and Japan held at the Foreign Ministry.
Earlier, Prime Minister Sheikh Hasina requested her Japanese counterpart to relax the rules of origin, said the Foreign Secretary.
He said Japan expressed satisfaction over the progress of setting up a special economic zone for the Japanese investors. "You know the issue was finalised yesterday."
Foreign Secretary M Shahidul Islam and Japanese Deputy Foreign Minister Shinsuke Sugiyama led Bangladesh and Japan side respectively at the FOC which reviewed the entire gamut of bilateral relations. Trade and investment issues were discussed in the meeting apart from reviewing the progress and agreed projects. "Both sides expressed satisfaction over the progress. The progress is virtually good," said the Foreign Secretary.
The Japanese side made it clear that they want to help Bangladesh for its industrialisation through massive investment, he said.
During Prime Minister Sheikh Hasina's visit to Japan on May 25-28, 2014 and Japanese Prime Minister Shinzo Abe's visit to Bangladesh on September 6-7, 2014, both the leaders agreed to hold regular Foreign Office Consultations on bilateral relations and other issues at the Foreign Secretary level.
As agreed upon, the Foreign Office Consultations would take place regularly in the future, according to the Foreign Ministry.
The Foreign Ministry finds the FOC as an important component of the 'Comprehensive Partnership' established between the two countries during Prime Minister Sheikh Hasina's visit to Japan in May 2014.