Desk News

Bangladesh and South Korea have reaffirmed their commitment to deepening bilateral trade and investment cooperation, with both sides expressing optimism over the proposed Comprehensive Economic Partnership Agreement (CEPA) and exploring new opportunities in key industrial sectors.

South Korean Minister of Commerce Yeo Han-Koo paid a courtesy call on Prime Minister Tarique Rahman at the Cabinet Division of the Bangladesh Secretariat on Monday afternoon. The meeting, held at 2:30 pm, focused on expanding economic collaboration, increasing investment, and strengthening long-term strategic ties between the two countries.

During the meeting, the South Korean minister briefed the prime minister on the progress of discussions surrounding the proposed CEPA between Bangladesh and South Korea. He said the agreement would serve as a significant milestone in bilateral relations by facilitating greater trade, promoting investment, and enhancing economic cooperation across multiple sectors.

According to the South Korean commerce minister, a number of Korean companies have already established successful business operations in Bangladesh, while many others are actively considering investment opportunities in the country. He expressed confidence that the implementation of the CEPA would encourage additional South Korean enterprises to expand their presence in Bangladesh and contribute to the country’s industrial development.

Prime Minister Tarique Rahman welcomed the growing interest of Korean investors and invited South Korean companies to explore investment opportunities in several high-potential sectors. He specifically highlighted toys, electronics, telecommunications, automobiles, semiconductors, and shipbuilding as industries where Bangladesh offers considerable prospects for foreign investors.

Emphasizing the importance of industrial cooperation, the prime minister pointed to South Korea’s internationally recognized expertise in shipbuilding. He noted that Bangladesh possesses a large and capable workforce that could support the industry’s expansion with appropriate training and technical assistance.

The prime minister proposed the establishment of a South Korean-supported training center in Bangladesh to equip local workers with specialized shipbuilding skills and Korean language training. Such an initiative, he said, would help prepare Bangladeshi workers for employment in South Korea’s shipbuilding sector while also strengthening the country’s own maritime manufacturing capabilities.

South Korean Minister of Commerce Yeo Han-Koo paid a courtesy call on the Honorable Prime Minister of Bangladesh, Tarique Rahman

He further assured the South Korean delegation that the Bangladesh government would provide the necessary policy support and facilitation if Korean companies decide to invest in the country’s shipbuilding industry. Such investments, he added, would contribute to employment generation, technology transfer, and the diversification of Bangladesh’s industrial base.

The South Korean delegation also informed the Bangladesh side about plans to organize a seminar involving Korean companies in Bangladesh. The event is expected to provide a platform for business leaders and investors from both countries to discuss potential partnerships, investment opportunities, and areas of future collaboration.

During the discussions, Bangladeshi officials highlighted the government’s ongoing initiatives to create a more investment-friendly business environment. They briefed the South Korean delegation on various policy reforms and measures aimed at improving ease of doing business, attracting foreign direct investment, and supporting sustainable industrial growth.

Responding to the proposals presented during the meeting, Minister Yeo Han-Koo welcomed Bangladesh’s initiatives and said the ideas discussed would contribute to further strengthening bilateral economic relations. He expressed optimism that closer cooperation between the two countries would create new opportunities for businesses and investors while enhancing long-term partnership.

Prime Minister Tarique Rahman also extended an invitation to the President of South Korea to visit Bangladesh, describing such a visit as an opportunity to elevate bilateral relations and explore new avenues of cooperation.

The meeting was attended by Commerce, Industry, Textiles and Jute Minister Khandaker Abdul Muktadir, Prime Minister’s Adviser on Finance and Planning Rashed Al Mahmud Titumir, Prime Minister’s Adviser on Foreign Affairs Humayun Kabir, Bangladesh Investment Development Authority (BIDA) Executive Chairman Ashiq Chowdhury, and other senior government officials. The discussions reflected the shared commitment of both nations to expanding trade, encouraging investment, and building a stronger economic partnership in the years ahead.