Japan to Slash Tariffs on 95% of Bangladeshi Goods in Sweeping Deal

Japan and Bangladesh have finalized a major economic agreement. The deal will remove or reduce Japanese tariffs on 95% of Bangladeshi exports. For Bangladesh, this is a strategic move. The country is set to lose its duty-free access to many developed nations in 2026. This is because it will no longer be classified as a "Least Developed Country." The new pact with Japan secures vital long-term market access. Key Bangladeshi exports will benefit. These include ready-made garments, leather goods, and agricultural products like shrimp. Currently, these items face tariffs of up to 11% in Japan. The agreement also covers areas beyond goods. It includes rules for investment, intellectual property, and e-commerce. Japanese automakers and electronics firms gain as well. Bangladesh will gradually eliminate its tariffs on most Japanese industrial imports. The deal awaits formal signing and approval by both governments. Officials state it will strengthen supply chains and deepen economic ties between the two nations.