Bangladesh has sought Australia’s support for joining the Regional Comprehensive Economic Partnership (RCEP) and proposed Free Trade Agreements (FTAs) with Australia and New Zealand as it prepares for graduation from the Least Developed Country (LDC) category.
Commerce Secretary Md Ataur Rahman Khan raised the proposals during meetings with officials in Canberra and Wellington as part of Bangladesh’s efforts to expand bilateral trade and investment.
In Canberra, Bangladesh sought Australia’s support for possible RCEP accession and for extending its LDC graduation preparation period by another three years. Bangladesh has applied to the United Nations to extend the transition period until November 2029.
Bangladesh also proposed a bilateral FTA with Australia. Australian officials said they would consult relevant stakeholders before determining the next steps. Bangladesh thanked Australia for continuing duty-free and quota-free market access for Bangladeshi products after graduation.
Bangladesh has already submitted its RCEP accession questionnaire and begun aligning laws related to intellectual property, competition and personal data protection with RCEP standards. Membership could provide Bangladesh with greater access to a major Asia-Pacific trading bloc and strengthen trade links between South Asia, East Asia and ASEAN markets.
During the Wellington meeting, Bangladesh proposed an FTA with New Zealand and sought its support for RCEP accession and an extension of the LDC transition period.
Bangladesh also proposed establishing a bilateral business forum, forming a technical working group, appointing dedicated focal points and facilitating regular information exchange between the two countries. Discussions also covered cooperation in agriculture, food security, technology exchange and trade expansion.
The initiatives are part of Bangladesh’s broader strategy to secure preferential market access and maintain export competitiveness after LDC graduation. The country has already signed an Economic Partnership Agreement with Japan and finalised a Comprehensive Economic Partnership Agreement with South Korea.
