In a major move to boost trade and investment, Bangladesh is set to sign trade agreements with Japan and the United States next week, reports Daily Sun.
Commerce Adviser Sk Bashir Uddin and Secretary Mahbubur Rahman will visit both countries to finalise the agreements. They are scheduled to leave Dhaka on Thursday, according to the commerce ministry.
On Friday, the Bangladesh-Japan Economic Partnership Agreement (BJEPA) will be signed in Tokyo, granting duty-free access to 7,379 Bangladeshi products in Japan from day one. In return, 1,039 Japanese products will receive immediate duty-free access to the Bangladeshi market.
From Tokyo, the delegation will proceed to Washington, where the agreement signing ceremony with the US is scheduled for 9 February, just three days before the 13th parliamentary election.
“We have received a date on 9 February from the USA. We have sent the summary seeking approval for the draft agreement and signing it on that date,” the commerce secretary told journalists on Sunday.
He said while the current reciprocal tariff rate is 20%, some countries have higher rates. “We hope the rate will be reduced further, but final confirmation will come on 9 February,” he said.
Earlier in August, Bangladesh successfully negotiated a tariff reduction with the US from 35% to 20%, following high-stakes discussions. Initially, in April 2025, the US had imposed a 37% duty on Bangladeshi products, later adjusted after a temporary postponement. The new agreement is seen as a diplomatic win and is expected to stabilise trade flows.
To address the long-standing trade imbalance, Bangladesh submitted a formal proposal to the United States Trade Representative (USTR) offering a roadmap to narrow the trade gap.
As part of its strategic concessions, Dhaka announced plans to purchase 25 aircraft from US aviation giant Boeing, 7 lakh tonnes of wheat, liquefied natural gas (LNG), cotton, medicines, capital machinery, chemical raw materials, and agricultural goods from the US.
According to USTR data, bilateral trade between the two nations reached $10.6 billion in 2024, with Bangladesh exporting $8.4 billion worth of goods to the US – an increase of 1.1% year-on-year. In contrast, US exports to Bangladesh dipped slightly to $2.2 billion, pushing the US trade deficit with Bangladesh to $6.2 billion.
In another question about the recently signed Free Trade Agreement (FTA) between India and the European Union (EU), the commerce secretary said there is nothing to worry.
“We have built strong capacity in the ready-made garment (RMG) sector and are now the world’s second-largest exporter in this sector. India is also very strong in textiles and has a solid position globally. We also import raw materials from India. But we are not concerned,” he added.
Bd-Pratidin English/ AM
