Japanese Ambassador to Bangladesh, Iwama Kiminori, revealed that Japanese garment retailers and brands are urging the preservation of duty-free market access to Bangladesh even after its expected graduation from the least developed country (LDC) status in 2026 as per reports.
In the past year, Bangladesh’s garment exports to Japan surged by 45 per cent to US $ 1.6 billion, attributing much of this growth to the existing duty-free privileges.
Kiminori reportedly stated that Japanese retailers have expressed their desire for an extension of duty-free market access between the two nations beyond 2026.
The ongoing negotiations for the Economic Partnership Agreement (EPA) between Bangladesh and Japan encompass not only tariff benefits but also address services, investment, trade customs procedures, trade facilitation, and price competition.
While three rounds of meetings have taken place for the EPA, primarily focused on maintaining duty-free trade before Bangladesh’s LDC graduation in November 2026, the exact trade benefits for both countries upon signing the deal remain uncertain.
