Bangladesh and Japan have signed the Bangladesh-Japan Economic Partnership Agreement, under which Bangladeshi ready-made garments will receive duty-free access to the Japanese market. The announcement was made by Chief Adviser’s Press Secretary Shafiqul Alam at a press conference held on Thursday, January 22, at the Foreign Service Academy in Dhaka. He described the agreement as a landmark step for Bangladesh’s trade relations.

According to the press secretary, the agreement will allow 7,379 Bangladeshi products to enter Japan duty-free, while Japan will gain immediate tariff-free access for 1,039 of its products in Bangladesh. He emphasized that this is the first time Bangladesh, as a least developed country, has signed such an agreement with the world’s fourth-largest economy. The deal is expected to open new opportunities for Bangladesh’s trade with other countries as well.

The press secretary highlighted that the biggest benefit for Bangladesh will be the duty-free entry of its largest export sector, the ready-made garment industry, into the Japanese market.