Dhaka: Commerce Minister Khandakar Abdul Muktadir today announced that the proposed Comprehensive Economic Partnership Agreement (CEPA) between Bangladesh and South Korea will significantly enhance economic cooperation between the two nations. This agreement aims to elevate bilateral relations to unprecedented levels, promising a new era of collaboration.
According to Bangladesh Sangbad Sangstha, Commerce Minister Muktadir emphasized that the CEPA is more than just a bilateral trade agreement; it is intended to establish a strong, long-term economic partnership between Bangladesh and South Korea. During a dinner event at Hotel Sonargaon held in honor of South Korean Trade Minister Yeo Han-koo, Muktadir praised South Korea's economic achievements and expressed optimism for future trade and investment partnerships.
The minister highlighted that Bangladesh-South Korea relations have grown beyond traditional development cooperation, now encompassing areas such as trade, investment, industrialization, and innovation. As Bangladesh transitions from the Least Developed Country (LDC) category, the CEPA is expected to deepen and expand economic ties between the two countries.
South Korean Trade Minister Yeo Han-koo, speaking at the event, referred to Bangladesh as his second home due to his previous experiences in Chattogram. He noted the opportunities presented by Bangladesh's burgeoning economy, industrial growth, and large consumer market. Yeo stressed his commitment to concluding the CEPA negotiations swiftly, drawing on his personal connection to Bangladesh.
Yeo highlighted that the CEPA would establish a stable legal framework, strengthening bilateral investment and economic partnerships over the next two decades. He encouraged the business community to capitalize on the opportunities that the agreement will generate.
Muktadir also acknowledged the hard work and commitment of the officials, negotiators, and technical experts from both nations involved in the CEPA discussions. He expressed confidence that the agreement would be signed soon, following the completion of remaining legal and procedural requirements.
The event was also attended by prominent figures such as Executive Chairman of the Bangladesh Investment Development Authority (BIDA) Chowdhury Ashik Mahmud Bin Harun, Economic Relations Division (ERD) Secretary Mohammad Shahriar Kader Siddiqui, and Commerce Ministry Secretary Md. Ataur Rahman Khan.