The Japanese ambassador to Bangladesh, Iwama Kiminori, emphasised the need to conclude the Japan-Bangladesh Economic Partnership Agreement (EPA) before Bangladesh’s LDC graduation in 2026 to maintain trade and investment privileges.
The Japanese ambassador stated that “The first EPA Joint Study Meeting occurred prior to the prime minister’s Japan visit, and they plan to hold the second meeting soonest to aim for negotiation conclusion before the country’s LDC graduation in 2026.”
He spoke as the chief guest at the event titled Investment Prospects and Key Tax Proposals Highlight with Business Impacts, organised by JBCCI in collaboration with Jetro Dhaka Office, Kobelco, and Maria Howlader and Co.
Amidst the ongoing challenges faced by Bangladesh following the 2022 Russia-Ukraine war, concerns arise as the country’s foreign reserves dwindle.
The global business community, including Japan, keenly observes Bangladesh’s efforts to overcome this difficult situation and restore macroeconomic stability.
Acknowledging the multitude of challenges, including meeting the IMF’s budget support condition, he empathised with the difficulties involved in formulating this year’s budget plan.
He added that while there are positive initiatives in the proposed budget, there are still areas that need improvement, and he appreciates the efforts made by the Bangladesh Government. The Government of Japan intends to provide continuous support.
He emphasised the importance of overall tax reform, particularly reducing reliance on customs duties for tax revenue. This reform is crucial for formulating a robust budget and alleviating the burden on the business community.
