The Bangladesh Trade and Tariff Commission (BTTC), after a recent study which found that Bangladesh could face complex rules of origin and higher duty structure in Japan after the LDC graduation, suggested Bangladesh should consider signing an FTA (free trade agreement) or a comprehensive economic partnership agreement with Japan.
The BTTC, which conducted the study following a request from the Commerce Ministry reportedly sent its report – BTTC’s report underlined the Government may consider negotiating an FTA on trade in goods if Japan agrees or a comprehensive economic partnership agreement if Bangladesh considers revising the domestic rules and regulations in areas like services and intellectual property rights – to the Commerce Ministry in the last week of September.
The concerned ministry would take further steps after examining the proposal further, claimed reports.
In fiscal year 2018-2019 Bangladesh exported goods worth US $ 1.36 billion to Japan – in recent years Japan has turned into a big market for ‘Made in Bangladesh’ apparel items – and imported goods worth US $ 1.85 billion from the country.
