BD-Japan for swift EPA implementation boost trade

Business Report :

In a significant move towards deepening economic ties, Bangladesh and Japan have reaffirmed their commitment to expeditiously implement the proposed Economic Partnership Agreement (EPA), aiming to elevate bilateral trade, investment, and labor cooperation to new heights.
Sources said, the renewed commitment came during a high-level bilateral meeting on Sunday held at the Japan Pavilion of the World Expo 2025 venue in Osaka, where SK Bashir Uddin, Adviser to the Prime Minister on Commerce, Textiles and Jute, and Civil Aviation and Tourism, met with Ogushi Masaki, Vice Minister of Japan’s Ministry of Economy, Trade and Industry (METI). The meeting marked a strategic milestone in Bangladesh-Japan relations, reflecting the growing mutual interest in forging a comprehensive partnership.
Vice Minister Ogushi Masaki reaffirmed Japan’s dedication to strengthening its economic engagement with Bangladesh, emphasizing that all outstanding issues surrounding the EPA would be resolved through constructive dialogue. He assured that Tokyo would work closely with Dhaka to implement the agreement in an effective and timely manner.
In response, Adviser Bashir Uddin highlighted the strong foundation of bilateral relations between the two nations, built over decades of friendship, development cooperation, and mutual trust. He noted that the fifth round of discussions on the EPA had concluded successfully, laying the groundwork for a broader economic framework that could transform trade and investment flows between the two countries.
The EPA, once finalized, is expected to significantly enhance Bangladesh’s export competitiveness in the Japanese market by reducing tariffs, simplifying customs procedures, and ensuring greater market access for Bangladeshi products-particularly textiles, garments, leather goods, and agro-processed items. Japan, in return, stands to benefit from improved access to a fast-growing consumer market of over 170 million people and investment opportunities in infrastructure, manufacturing, and services sectors.
The two sides also discussed the untapped potential of Japanese investment in Bangladesh’s economic zones, energy sector, and industrial infrastructure. Bashir Uddin urged Japan to scale up its investment in Bangladesh, citing the example of Mitsubishi Corporation’s participation in fertilizer production as a model of successful collaboration. He encouraged both Japanese public institutions and private enterprises to explore opportunities in Bangladesh’s growing sectors such as renewable energy, IT services, electronics, and automobile components.
A key focus of the meeting was labor cooperation. Recognizing Japan’s demographic challenges and increasing demand for foreign skilled labor, the Adviser highlighted Bangladesh’s growing youth population as a potential solution.