Bangladesh seeks to join China-led trade pact

The commerce ministry on Monday sent a letter of consent to the foreign ministry, requesting Bangladesh's entry into the China-led Regional Comprehensive Economic Partnership (RCEP), the world's largest trade pact.

This is the first formal step taken by Bangladesh to join the RCEP. 

"We have sent a letter citing our consent to join the RCEP," said a senior officer of the commerce ministry, on the condition of anonymity.

Earlier, the office of the chief adviser approved Bangladesh's participation in the RCEP, a regional trading bloc that accounts for 30 percent of global gross domestic product.

Another commerce ministry officer mentioned that a meeting will take place next month in Dhaka with Japan to initiate formal negotiations for signing the economic partnership agreement (EPA).

Bangladesh and Japan have already completed a joint feasibility study on signing the EPA.

However, the formal negotiations for the EPA were delayed due to the political transition in Bangladesh early August this year.