Japan, Bangladesh reach economic partnership agreement in principle

By Berk Kutay Gokmen

ISTANBUL (AA) – Japan and Bangladesh on Monday reached an economic partnership agreement in principle, Tokyo’s Foreign Ministry said in a statement on Monday.

The agreement came after Japanese Foreign Minister Motegi Toshimitsu and Bangladesh’s Commerce Adviser Sheikh Bashir Uddin had a phone conversation.

They confirmed that “an agreement in principle was reached on the Japan-Bangladesh economic partnership agreement,” which marked Japan’s first such deal with a country classified as a least developed country.

The two officials agreed to further cooperate towards the signing of this agreement, in the wake of deciding last year to hold negotiations towards this end.

The conclusion of the agreement “is expected to further strengthen economic relations, including the expansion of trade and investment between the two countries,” according to the statement.

Japan and Bangladesh established ties in February 1972, and bilateral trade between the two nations reached $3.79 billion in 2020-2021, according to Japanese Foreign Ministry data.