Bangladesh’s earnings from exports to Japan this fiscal are 11.73 per cent higher compared to fiscal ’17. Almost 74.8 per cent export earnings from Japan were from the readymade garment sector. Apparel exports to Japan went up 13.73 per cent rise.

Meanwhile, Japan has shown a keen interest in hiring skilled labor from Bangladesh for its textile industry. While attracting FDI from Japan, Bangladesh has offered a special economic zone. Currently, a total of 266 Japanese companies are operating in Bangladesh.

Japan will continue to grant duty free market access for Bangladeshi goods except hand gloves and arms even after Bangladesh graduates to a developing country status. As a least developed country Bangladesh enjoys duty-free and quota-free trade with Japan.

Bangladesh hopes to be a top knitwear supplier to Japan. The sector is growing in Bangladesh and has strong backward linkages and also manufactures quality products. The country hopes to increase its exports by 25 per cent by 2020. Huge orders are expected to come from Japan during the Summer Olympic games, to be held from July 20 to August 9, 2020, for knitwear products like T-shirts, polo shirts and sweaters.