Bangladesh Defense
Saif
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Date of Event:
Sep 25, 2026
RCEP ministers approve Bangladesh's accession advancement
Courtesy: Magnific (formerly Freepik)
The Regional Comprehensive Economic Partnership (RCEP) ministers have approved the advancement of the accession process for Bangladesh, alongside Chile, Hong Kong, and Sri Lanka.
The decision was announced in a Joint Media Statement following the 5th RCEP Ministers' Meeting held in Manila, the Philippines, on September 21, 2026.
The meeting approved the recommendation of the RCEP Joint Committee to establish an ad hoc Accession Working Group to proceed with Bangladesh's accession process.
The meeting was co-chaired by Diah Roro Esti Widya Putri, vice minister of trade of Indonesia, and Dr Shane Reti, member of the Foreign Affairs, Defence and Trade Committee of the New Zealand Parliament.
Talking to the FE, Commerce Minister Khandakar Abdul Muktadir said it was a great achievement for Bangladesh as the country had made visible progress towards joining the world's largest trade bloc.
"We have received the go-ahead in principle. Now a joint working committee will work on this," he said.
RCEP accession was one of the major tasks of the Ministry of Commerce, while negotiating a Free Trade Agreement (FTA) with the European Union (EU) was another, he added.
Commerce Secretary Md Ataur Rahman Khan said extensive groundwork had been undertaken to secure the green signal from the RCEP ministers.
"Our visit to our counterparts in New Zealand and Australia prior to the ministers' meeting helped secure their support for Bangladesh's RCEP accession," he said.
In the meeting, delegates representing ASEAN member states, along with Australia, China, Japan, New Zealand, and the Republic of Korea, gathered to review the implementation of RCEP and regional trade cooperation.
The meeting also approved alignment with the "Next Steps for RCEP Accession Process".
International trade economist Dr Mohammad Abdur Razzaque, chairman of the Research and Policy Integration for Development (RAPID), said the development was encouraging and would help expedite the accession process.
"With the approval, the process has officially begun to join this highly important trade bloc," he said.
Major import markets, such as China, Japan, and South Korea, are RCEP members, offering Bangladesh opportunities to expand its market access, he added. Dr Razzaque said RCEP rules were relatively flexible, taking into account the strengths and economic circumstances of different countries, which could allow Bangladesh a longer transition period for preferential trade benefits.
He, however, suggested harmonising Bangladesh's existing bilateral trade agreements with Japan and South Korea to avoid complications arising from overlapping trade arrangements.
Dr Razzaque said the RCEP negotiation process may require Bangladesh to lower its relatively high tariff regime, which could pose a risk to the country's already narrow fiscal space.
"Though RCEP accession is not guaranteed with this approval, Bangladesh has a high chance because of its large consumer market," he added.
Beyond Bangladesh and its co-applicants, the meeting acknowledged Uruguay's accession interest expressed in February 2026, which would be given due consideration.
The ministers also highlighted initiatives to enhance economic resilience, support micro, small and medium enterprises (MSMEs), maintain WTO-consistent trade rules, and strengthen regional trade cooperation.
They also launched the official RCEP web platform.
In 2022, an inter-ministerial meeting agreed to initiate discussions on joining RCEP to mitigate the challenges Bangladesh is likely to face after LDC graduation.
However, the current government has intensified the effort to speed up the process of RCEP accession.
Courtesy: Magnific (formerly Freepik)
The Regional Comprehensive Economic Partnership (RCEP) ministers have approved the advancement of the accession process for Bangladesh, alongside Chile, Hong Kong, and Sri Lanka.
The decision was announced in a Joint Media Statement following the 5th RCEP Ministers' Meeting held in Manila, the Philippines, on September 21, 2026.
The meeting approved the recommendation of the RCEP Joint Committee to establish an ad hoc Accession Working Group to proceed with Bangladesh's accession process.
The meeting was co-chaired by Diah Roro Esti Widya Putri, vice minister of trade of Indonesia, and Dr Shane Reti, member of the Foreign Affairs, Defence and Trade Committee of the New Zealand Parliament.
Talking to the FE, Commerce Minister Khandakar Abdul Muktadir said it was a great achievement for Bangladesh as the country had made visible progress towards joining the world's largest trade bloc.
"We have received the go-ahead in principle. Now a joint working committee will work on this," he said.
RCEP accession was one of the major tasks of the Ministry of Commerce, while negotiating a Free Trade Agreement (FTA) with the European Union (EU) was another, he added.
Commerce Secretary Md Ataur Rahman Khan said extensive groundwork had been undertaken to secure the green signal from the RCEP ministers.
"Our visit to our counterparts in New Zealand and Australia prior to the ministers' meeting helped secure their support for Bangladesh's RCEP accession," he said.
In the meeting, delegates representing ASEAN member states, along with Australia, China, Japan, New Zealand, and the Republic of Korea, gathered to review the implementation of RCEP and regional trade cooperation.
The meeting also approved alignment with the "Next Steps for RCEP Accession Process".
International trade economist Dr Mohammad Abdur Razzaque, chairman of the Research and Policy Integration for Development (RAPID), said the development was encouraging and would help expedite the accession process.
"With the approval, the process has officially begun to join this highly important trade bloc," he said.
Major import markets, such as China, Japan, and South Korea, are RCEP members, offering Bangladesh opportunities to expand its market access, he added. Dr Razzaque said RCEP rules were relatively flexible, taking into account the strengths and economic circumstances of different countries, which could allow Bangladesh a longer transition period for preferential trade benefits.
He, however, suggested harmonising Bangladesh's existing bilateral trade agreements with Japan and South Korea to avoid complications arising from overlapping trade arrangements.
Dr Razzaque said the RCEP negotiation process may require Bangladesh to lower its relatively high tariff regime, which could pose a risk to the country's already narrow fiscal space.
"Though RCEP accession is not guaranteed with this approval, Bangladesh has a high chance because of its large consumer market," he added.
Beyond Bangladesh and its co-applicants, the meeting acknowledged Uruguay's accession interest expressed in February 2026, which would be given due consideration.
The ministers also highlighted initiatives to enhance economic resilience, support micro, small and medium enterprises (MSMEs), maintain WTO-consistent trade rules, and strengthen regional trade cooperation.
They also launched the official RCEP web platform.
In 2022, an inter-ministerial meeting agreed to initiate discussions on joining RCEP to mitigate the challenges Bangladesh is likely to face after LDC graduation.
However, the current government has intensified the effort to speed up the process of RCEP accession.
