Dhaka has urged Tokyo to continue duty-free and quota-free (DFQF) access to Japanese market for five more years even after it graduates from the least-developed country (LDC) status in 2024.
Commerce minister Tipu Munshi said this at a view-exchange meeting with Japanese envoy Ito Naoki on Thursday, said a press release.
Commerce secretary Md Jafar Uddin and additional secretary of the ministry Md Obaidul Azam accompanied him at the meeting hosted in the minister's residence.
Currently, Bangladeshi products enjoy the generalised system of preference (GSP) facility in Japan.
Japan is a large development partner of Bangladesh. Potential is huge to boost export earnings from Japan. Dhaka eyes to seize the chance, Mr Munshi observed.
The country's export earnings from Japan will be increased if Japan gives more facility in the export of garment items, he added.
The minister mentioned that some 100 special economic zones were being set up here. Japan would reap benefits if it invests in the zones.
Bangladesh is a big market for Japanese automobile. Japan will be benefited if it establishes an automobile factory here, he said.
Mr Naoki said Japan is thinking of setting up an automobile plant in Bangladesh. It will invest at Araihazar in Narayanganj.
Tokyo has assured Dhaka of considering the continuity of DFQF access of Bangladeshi goods to Japan even after its LDC graduation, according to the release.
The envoy spoke of signing free trade agreement or preferential trade agreement and forming a joint working group to expand bilateral trade ties further. Currently, there is a huge demand for skilled manpower in Japan, he commented.
Bangladesh earned $1365.74 million and $1200.78 million by exporting different products to Japan in fiscal years 2018-19 and 2019-20 respectively.
Later, another view-exchange meeting was held between Mr Munshi and Indian high commissioner Riva Ganguly Das at the same venue.
