BD Requests Japan to Extend DFQF Access

Dhaka urged Tokyo to continue duty-free and quota-free (DFQF) entry to the Japanese market for another five years, even after graduating from the least developed country (LDC) in 2024.

Commerce Minister Tipu Munshi said this at a press release meeting with Japanese Envoy Ito Naoki on Thursday.

The Secretary of Commerce, Md Jafar Uddin, and Additional Secretary of the Ministry, Md Obaidul Azam, accompanied him at a meeting in the residence of the Minister.

Bangladeshi goods currently 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 apparel export services, he added.

The Minister mentioned that some 100 special economic zones have been set up here. Japan would reap the benefits of investing 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 that Japan is thinking of setting up a car plant in Bangladesh. It's going to invest in Araihazar in Narayanganj.

Tokyo has ensured that Dhaka considers the continuity of DFQF access of Bangladeshi products 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 the 2018-19 and 2019-20 fiscal years respectively.

Later, another exchange of views was conducted at the same venue between Mr. Munshi and Indian High Commissioner Riva Ganguly Das.