Assessing the Bangladesh‐Japan CEPA: A CGE Approach
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The Comprehensive Economic Partnership Agreement (CEPA) initiative between Bangladesh and Japan has emerged as one of the most important tools for bilateral cooperation. The main aim of this agreement is strengthening bilateral trade and investment liberalization integration. The main objective of the study is to investigate the potential economic effects of Bangladesh‐ Japan CEPA using computable general equilibrium analysis of GTAP database. The analysis highlights the possible costs and benefits of the two nations under two different scenarios. Under Scenario‐I all bilateral import tariffs between Bangladesh and Japan are removed; Scenario‐II represents the setting where Bangladesh cuts 50 percent tariff but Japan cuts 100 percent of their tariff. Our findings indicate that Japan may gain more in terms of welfare and real GDP via the improved terms of trade while Bangladesh is going to have welfare loss, but if Bangladesh is able to make a preferential free trade agreement like scenario‐II with Japan its welfare, real GDP and exports will be increased substantially.
Abstract
The Comprehensive Economic Partnership Agreement (CEPA) initiative between Bangladesh and Japan has emerged as one of the most important tools for bilateral cooperation. The main aim of this agreement is strengthening bilateral trade and investment liberalization integration. The main objective of the study is to investigate the potential economic effects of Bangladesh‐ Japan CEPA using computable general equilibrium analysis of GTAP database. The analysis highlights the possible costs and benefits of the two nations under two different scenarios. Under Scenario‐I all bilateral import tariffs between Bangladesh and Japan are removed; Scenario‐II represents the setting where Bangladesh cuts 50 percent tariff but Japan cuts 100 percent of their tariff. Our findings indicate that Japan may gain more in terms of welfare and real GDP via the improved terms of trade while Bangladesh is going to have welfare loss, but if Bangladesh is able to make a preferential free trade agreement like scenario‐II with Japan its welfare, real GDP and exports will be increased substantially.
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