Japan set to move forward with Bangladesh's first economic partnership pact

Japan is moving ahead with an economic partnership agreement with Bangladesh that would eliminate tariffs on textile imports, in what would be Bangladesh's first pact of this kind with another country.

Japan's Foreign Ministry is aiming to bring the agreement before parliament for approval during the current legislative session, people familiar with the plan say. The deal would give Bangladesh's garment industry, one of the largest in the world, preferential access to the Japanese market.

The agreement also carries strategic significance beyond trade. Japan has been working to deepen economic and diplomatic ties across South Asia in recent years, a push that analysts say is partly aimed at offering regional partners an alternative to China's growing economic influence in the region.

For Bangladesh, the pact would mark a notable step in diversifying its trade relationships beyond its traditional markets in Europe and North America. The country's textile sector, a major source of employment and export revenue, stands to benefit most directly from reduced tariffs on shipments to Japan.

Officials from both countries have described the agreement as a foundation for broader cooperation, with further economic and investment initiatives expected to follow once the pact is finalized.