Written by The Banking Post
Bangladesh and South Korea have agreed to deepen trade and investment cooperation, signalling renewed momentum in bilateral economic relations.
The commitment came during a meeting on the sidelines of the 14th WTO Ministerial Conference in Yaoundé on Sunday.
Commerce Minister Khandaker Abdul Muqtadir highlighted Bangladesh’s push to expand global trade engagement as the country prepares for graduation from the least developed country (LDC) category. He pointed to ongoing efforts to sign Free Trade Agreements (FTA) and Economic Partnership Agreements (EPA), including active negotiations with South Korea.
Bangladesh has already concluded an EPA with Japan and is exploring broader regional integration, including potential entry into the Regional Comprehensive Economic Partnership (RCEP).
The minister also invited increased South Korean investment, citing the success of existing investments in the ready-made garment sector and Bangladesh’s growing consumer market.
South Korea described Bangladesh as a promising economy and expressed interest in expanding economic cooperation. “Current trade volumes are below potential, but there is significant room for growth,” said the Korean side, pointing to opportunities in shipbuilding, steel, manufacturing and investment.
They also suggested that Bangladesh’s agreement with Japan could serve as a model for future bilateral deals.
Both sides agreed to maintain regular engagement at ministerial and technical levels to advance negotiations and translate commitments into tangible outcomes.
