After the graduation to a developing nation, Bangladesh may take the initiative for holding discussions with ASEAN countries to sign free trade agreement, Philippine Ambassador said.
India’s Commerce Ministry has finalized the draft agreement for the proposed Bangladesh –India Comprehensive Economic Partnership Agreement.
Bangladesh is keen to clinch a Free Trade Agreement not only with India but also with Indonesia and Sri Lanka in a year.
Bangladesh now works vigorously to sign free-trade agreement (FTA) with ASEAN before LDC graduation to make up for loss of preferential trading facility following exit from the poor-country club.
The government is considering seven countries and two regional blocs as potential partners for signing free trade agreements to retain duty-free market access of Bangladeshi products after the graduation from the least developed country to a developing one in 2026.
Bangladesh is set to put forward a package of proposals, including the signing of Preferential Trade Agreement, with Nepal during the upcoming foreign office consultation, officials say.
Bangladesh is switching to a new set of policy guidelines titled ’Regional Trade Agreement (RTA)’ as the existing FTA regime is deemed obsolete for helping Bangladesh tackle post-graduation trade challenges.
Bangladesh and Japan would explore scopes for signing a free trade agreement for boosting bilateral trade, investment and economic cooperation.
While negotiations are underway with the WTO and the EU to get existing trade benefits extended beyond LDC graduation, Bangladesh sign FTAs with Canada, Japan, China, India, South Korea, Russia, and Australia before 2026.
Indian Commerce and Industry Minister said the government wanted to move forward with a Comprehensive Economic Partnership Agreement (CEPA) with Bangladesh.
Both countries will soon finalise a joint study on the prospects of entering into a bilateral free trade agreement, to strengthen economic ties between the two countries.
Minister for Foreign Affairs in Bangladesh said that his country is in discussions with Egypt regarding the signing of a free trade agreement to cancel customs tariffs, which will foster bilateral trade.
The Chinese side said that after graduating from the LDC status, Bangladesh would face a lot of challenges like withdrawal of many trade-related facilities, and in that scenario FTA with China could be a major cushion to offset the shocks.
Final offer lists of products from both sides will be sent virtually later in January, said a senior official of the commerce ministry in Bangladesh.
As the possibility of a free-trade agreement (FTA) between Bangladesh and Australia is unlikely soon, trade officials suggest signing a bilateral investment treaty to bolster investment.
Bangladesh and Singapore have agreed to accelerate the signing of free trade agreement (FTA) to boost trade and investment.
Bangladesh has formally conveyed to the Eurasian Economic Union (EAEU) its intent to sign a free trade agreement (FTA) as the country prepares for a socioeconomic status change.
Bangladesh and India were now jointly studying the pros and cons of signing a comprehensive economic partnership agreement.
Negotiations for signing a Comprehensive Economic Partnership Agreement (CEPA) with India will begin next year as the related feasibility study has entered its final stage.
Thailand and Bangladesh are working closely to ink a bilateral free trade agreement (FTA), the country’s envoy said during a meeting with Bangladeshi business leaders.