Bangladesh has received official approval to advance its accession process to the Regional Comprehensive Economic Partnership, the world’s largest free trade bloc, following a decision announced at the 5th RCEP Ministers’ Meeting in Manila, the Philippines. Trade ministers on September 21, 2026, endorsed a recommendation by the RCEP Joint Committee to establish an ad hoc Accession Working Group to handle formal discussions and technical work for Bangladesh and other interested applicants.
Manila Ministerial Meeting Clears Path for Expansion
For Bangladesh’s apparel and textile supply chain, membership could expand access to major Asia-Pacific markets including China, Japan, South Korea, Australia, and New Zealand. Commerce Minister Khandakar Abdul Muktadir described the decision as a significant achievement, stating that the country had secured a go-ahead in principle to proceed with negotiations through the newly formed joint working committee, as reported by local media.
Safeguarding Exports Beyond LDC Status
The Commerce Ministry views RCEP accession as a primary mechanism to offset potential trade complications linked to Bangladesh’s upcoming graduation from the Least Developed Country category. Commerce Secretary Md Ataur Rahman Khan noted that extensive preparatory groundwork, including bilateral engagements with trade counterparts in New Zealand and Australia prior to the ministerial summit, proved vital in securing broad regional support for the country’s bid.
Global Applicants Join Regional Working Group
The ministerial meeting in Manila 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. Alongside Bangladesh, the ad hoc working group will also evaluate accession applications from Sri Lanka, Chile, and Hong Kong (China), while acknowledging an expression of interest submitted by Uruguay in February 2026.
Balancing Tariff Adjustments With Market Integration
Dr Mohammad Abdur Razzaque, chairman of the Research and Policy Integration for Development, said the official start of the accession process offers valuable opportunities to deepen integration within major import markets like China, Japan, and South Korea. According to Dr Razzaque, RCEP’s flexible structural rules could afford Bangladesh a longer transition period to adjust to new trade parameters, though he cautioned that negotiations will likely require the country to lower its relatively high tariff regime, potentially impacting domestic fiscal space.
Bangladesh originally initiated exploratory talks regarding RCEP membership in 2022 during an inter-ministerial meeting focused on post-LDC trade strategies. Current administrative efforts have since accelerated those discussions. RCEP member states reaffirmed their commitment to maintaining an open, inclusive trade framework while advancing regional cooperation, supporting micro, small and medium enterprises, and upholding World Trade Organization-consistent rules.