Seoul:Bangladesh and the Republic of Korea have agreed to enhance their economic partnership after concluding negotiations on the Comprehensive Economic Partnership Agreement (CEPA). The focus will be on trade, investment, technology, and private-sector cooperation.
According to Bangladesh Sangbad Sangstha, the two countries will establish a government-private sector working group to identify priority areas for cooperation. This includes facilitating business engagement through public-private partnerships (PPPs). This understanding was reached during a bilateral meeting between Bangladesh Finance and Planning Minister Amir Khosru Mahmud Chowdhury and Korean Trade Minister Jung-sung Park.
The meeting, which took place in Seoul, included key officials such as the Adviser to the Prime Minister on Posts, Telecommunications and Information Technology Rehan Asif Asad, Prime Minister's Special Assistant for Investment and Capital Market Affairs Tanvir Shahriar Ghani, and Economic Relations Division (ERD) Secretary Md Shahriar Kader Siddiky. The proposed working group will focus on identifying investment opportunities, business facilitation measures, and mechanisms for stronger private-sector engagement.
Minister Chowdhury stated that the conclusion of CEPA negotiations marks an opportunity to broaden Bangladesh-Korea economic relations. He emphasized moving beyond traditional textile and garments partnerships to a technology-driven economic relationship, highlighting sectors such as electronics, shipbuilding, renewable energy, and digital industries.
The minister detailed Bangladesh's efforts to improve the investment climate, including digitalization and automation of capital repatriation, reduction of customs duties, and streamlining customs procedures. Minister Jung-sung Park reaffirmed Korea's commitment to the partnership and addressed matters of interest raised by Korean businesses in Bangladesh.
The Bangladesh delegation also engaged with leading Korean companies like Hyundai Glovis and Hanwha Ocean, exploring investment and business opportunities in logistics, shipbuilding, and maritime infrastructure. Discussions with Samsung Electronics focused on cooperation in electronics manufacturing and technology solutions.
The Finance and Planning Minister expressed Bangladesh's intent to work with the Korean government and businesses to realize the economic opportunities presented by the post-CEPA environment, aiming for higher trade, investment, and integration into global value chains.