The Council of Advisers on Thursday approved a proposal to sign the Economic Partnership Agreement (EPA) with Japan which will help Bangladesh enjoy immediate duty-free access to the Japanese market for 7,379 products.

In return, Japan will receive immediate duty-free access to 1,039 products from Bangladesh through the signing of the EPA between Bangladesh and Japan.

It will be a milestone and historic agreement, Chief Adviser’s Press Secretary Shafiqul Alam told the reporters at the Foreign Service Academy.

While briefing the journalists, Alam said this will eventually help Bangladesh negotiate better with other countries on the trade front.

"We are trying to diversify exports and markets," said the Press Secretary, noting Bangladesh's RMG products will enjoy duty-free market access to Japan’s market.

As a Least Developed Country (LDC), the Press Secretary said, Bangladesh will, for the first time, sign an EPA with Japan, the world’s fourth-largest economy.

The signing of this agreement is expected to bring far-reaching trade and economic benefits for Bangladesh, including enhanced trade, investment, and employment opportunities, marking a new chapter in the nation’s economic relations with Japan.

As an early step in the negotiations, a Joint Study Group was established, which published its report on 27 December 2023.

The report recommended a comprehensive approach covering 17 sectors for negotiation.

The official negotiations for the EPA commenced on 12 March 2024, as per the Agreed Work Plan.

The first round was held in Dhaka from 19–23 May 2024, but due to unforeseen challenges, the talks were temporarily paused.

Bangladesh and Japan finalised the draft of an Economic Partnership Agreement (EPA) last month.

The Council of Advisers also approved several key ordinances, proposals and policies at its weekly meeting at the Chief Adviser's Office (CAO).

Chief Adviser Prof Muhammad Yunus chaired the meeting.

The Council discussed 13 major agendas, including multiple ordinances and proposals.

Of them, the Council of Advisers approved 11 items while two drafts of two ordinances were sent back for further review, said the Press Secretary.

The Council gave final approval to drafts of the Bangladesh Private Export Processing Zones Act (Repeal) Ordinance, 2026, the Negotiable Instruments (Amendment) Ordinance, 2026, the Bangladesh House Building Finance Corporation (Amendment) Ordinance, 2026, the Gambling Prevention Ordinance, 2026, the Dhaka Central University Ordinance, 2026, the Private Educational Institutions Teachers and Employees Retirement Benefits Board Ordinance, 2026 and the Private Educational Institutions Teachers and Employees Welfare Trust Ordinance, 2026.

The draft of the Right to Information Ordinance, 2026 also got approval of the Council of Advisers.

The meeting also approved the draft of the Mutual Legal Assistance (MLA) Treaty between Bangladesh and Malaysia and the National Poultry Development Policy, 2026.

The Press Secretary said the Council sent back the drafts of the Money Laundering Prevention (Amendment) Ordinance, 2026, and the Bangladesh National Qualifications Framework (BNQF) Policy, 2026, for further review.

Chief Adviser's Senior Assistant Press Secretary Foyez Ahammad was present at the briefing.