Bangladesh, Japan need to sign FTA soon: Japanese Ambassador

The ambassador mentioned about a recent survey that found 85% of the Japanese companies operating in Bangladesh want the signing

Japanese ambassador to Bangladesh Ito Naoki has said that both Bangladesh and Japan need to sign a free trade agreement (FTA) as already the majority of companies on both sides want such engagement.  

“We need to have a new agreement, a new bilateral agreement. Then the conclusion is free trade agreement or broader, namely an economic partnership agreement. So, there is a good reason to proceed with this possibility,” he said during a dialogue at the National Press Club organised by the Diplomatic Correspondent Association of Bangladesh (DCAB) Tuesday (7 June).

“In fact, the ministry of commerce here has requested to initiate the joint feasibility study of the free trade agreement. The ministry in Tokyo is reconsidering this possibility. Hope we can start a new framework of consultation between the two governments before ending this milestone year,” he added.

The ambassador mentioned about a recent survey that found 85% of the Japanese companies operating in Bangladesh want the signing of an FTA between Japan and Bangladesh to continue duty-market access even after the graduation of Bangladesh from the least developed country to a developing one in 2026.