Japan envoy calls for reforms, industrial policy to maximise Bangladesh-Japan EPA benefits
The ambassador described the EPA as Bangladesh’s first full-fledged economic partnership agreement and also Japan’s first such agreement with a Least Developed Country.
Ambassador of Japan in Dhaka Saida Shinichi has urged Bangladesh to strengthen institutional capacity, diversify industries and effectively implement the Bangladesh-Japan Economic Partnership Agreement (EPA) to fully utilise opportunities created by the landmark trade deal.
Speaking as a special guest at a seminar titled "Maximising the Opportunities of the BD-Japan EPA," organised by the Centre for Policy Dialogue (CPD) at the Embassy of Japan in Dhaka, the envoy addressed the participants.
He said the EPA marks a historic milestone in bilateral relations and could accelerate Bangladesh's transition towards an advanced industrial economy.
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The ambassador described the EPA as Bangladesh's first full-fledged economic partnership agreement and also Japan's first such agreement with a Least Developed Country.
"EPA itself is not just about tariff reductions," he said, stressing that the agreement also covers broader rules related to customs procedures, trade regulations and services. He noted that effective implementation of these rules will be essential to realise the full benefits of the deal.
Shinichi also emphasised the need for "self-help" measures by Bangladesh, urging the country to use the agreement as a platform for industrial upgrading and structural transformation. According to him, this would require stronger institutional capacity, better policy coordination and improved investment facilitation.
He said Bangladesh is increasingly becoming an attractive destination for Japanese businesses, although Japan's foreign direct investment in the country remains modest compared with its potential. The EPA, he said, could act as a catalyst for greater business engagement and open a new chapter for Japanese investment in the growing Bangladeshi market.
The ambassador stressed the need for appropriate industrial policies to maximise the agreement's impact. He noted that while the ready-made garment sector remains central to Bangladesh's economy, Japanese firms are gradually expanding investments in automobiles and consumer goods, signalling diversification.
Both countries signed the EPA on 6 February this year.
The event brought together policymakers, researchers and business leaders to explore ways to utilise the Bangladesh-Japan EPA for boosting bilateral trade, investment and economic cooperation.
Fahmida Khatun, executive director of the Centre for Policy Dialogue, delivered the welcome speech.
