Bangladesh and Japan have agreed to sign the Economic Partnership Agreement (EPA) by the end of 2025 or early 2026 which will deepen and expand bilateral trade and investment between the two nations.
This agreement is particularly important owing to the impending graduation of Bangladesh from the Least Developed Country (LDC) status to Middle- Income Country Status scheduled for November 2026, which would be accompanied with the expiry of several preferential trade and tariff accesses.
JBCCI has been actively involved and keen to contribute to the negotiations from the very beginning and has been trying different methods to help the process for the welfare of both nations.
In line with this, JBCCI assigned think-tank Policy Exchange of Bangladesh Ltd to prepare the “EPA Study Report” which was officially launched with a formal Launching Ceremony supported by Embassy of Japan in Bangladesh at Multipurpose Hall, Embassy of Japan on November 13, 2024.
At present JBCCI has formed a standing committee consisting of board members and knowledgeable member companies for facilitating the negotiations and preparation of EPA.
The Sixth round of negotiations for the Japan-Bangladesh Economic Partnership Agreement (EPA) was held in Dhaka, Bangladesh, from June 21-26 in a hybrid format.
In response to this development, the EPA/FTA Standing Committee of the Japan-Bangladesh Chamber of Commerce and Industry (JBCCI) convened a meeting to discuss the outcomes of the negotiations and to reflect on the role of the private sector in the process.
Asif A. Chowdhury, chairman of the EPA/FTA Standing Committee and chairman of Crown Navigation Co. (Pvt.) Ltd., provided a comprehensive overview of the Sixth round of negotiations.
He also outlined the past activities of the EPA/FTA Standing Committee and shared insights into the current status of the agreement, highlighting key negotiation challenges and potential benefits.
Chowdhury emphasized that while the EPA will significantly benefit the private sector once signed, its involvement has been largely overlooked from the Bangladesh-side during the negotiation stages.
Matiur Rahman, past and founding president of JBCCI and chairman & managing director of Uttara Motors Ltd., echoed similar concerns and underscored the importance of greater private sector engagement to ensure a balanced and mutually beneficial agreement between Bangladesh and Japan.
Maria Howlader, secretary general of JBCCI and founder & managing Partner of Howlader Maria & Co. (HmAC), suggested that sharing key negotiation points with stakeholders would enhance involvement and foster more constructive contributions.
Hiroaki Oura, vice president of JBCCI and general manager of Itochu Corporation, Dhaka Liaison Office, shared perspectives on the current negotiation status from the Japanese side, reaffirming strong interest in the agreement.
Takamasa Yamamoto, General Manager of Teijin Frontier Co., Ltd., also expressed his views and supported the call for greater private sector involvement at this negotiation stage.
Mohammed Sohel, director of JBCCI and managing director of Bangla Poshak Ltd., emphasized the need for government-level attention to several technical aspects of the EPA, including sector-specific tariff elimination, rules of origin, timelines, and customs regulations, to ensure a fair and mutually advantageous agreement.
Tahera Ahsan, executive director of JBCCI, highlighted previous initiatives undertaken by JBCCI, also proposed to arrange meetings and seminars involving key negotiators.
She, along with other members of the EPA/FTA Standing Committee, proposed collecting and collating ideas, suggestions, and comments from JBCCI members to be formally submitted to the Government of Bangladesh as part of the ongoing negotiation process.
The meeting was concluded by Tareq Rafi Bhuiyan (Jun), president of JBCCI and managing director of NewVision Solutions Ltd, reiterated the strategic importance of the EPA, noting that it will create enhanced market access opportunities and contribute positively to the economies of both Bangladesh and Japan.
