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WorldPosted at: Oct 18 2024 12:50AM


Bangladesh Govt makes initial move to join trade bloc led by China

Dhaka, Oct 17 (UNI) Requesting Bangladesh's admission into the world's largest trade agreement, the China-led Regional Comprehensive Economic Partnership (RCEP), the Commerce Ministry wrote a letter of approval to the Foreign Ministry on Monday, media reports said.
This is Bangladesh's first official move towards joining the RCEP, a significant trade deal including investment, trade in services, technical and economic cooperation, and dispute resolution, The daily Star quoted.
Bangladesh's primary motivation for initiating move to joining the RCEP is that, upon graduating from the list of least developed countries (LDCs) in 2026, it will forfeit preferential trade privileges to markets comprising the Association of Southeast Asian Nations (ASEAN) group.
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