Bangladesh to Apply for Membership to China-Centric Trade Group

A recent survey revealing how Bangladesh is likely to benefit from pressure on U.S. clothing companies to pull supply chains out of China. Graph via Bloomberg.

Bangladesh will reportedly submit a formal request by September to join the Regional Comprehensive Economic Partnership (RCEP), a China-led free trade community that represents about 30% of global GDP.

The decision was taken at an inter-ministerial meeting on Tuesday. It now requires Cabinet approval, and the government will approach RCEP as to the procedures to join. RCEP is made up of the ten Association of Southeast Asian Nations (ASEAN) members, as well as China, Japan, South Korea, Australia, and New Zealand.  

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by Cobus van Staden

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