Korean ambassador to forge new business collaboration

Staff Correspondent

Publisted at 7:44 AM, Thu Mar 7th, 2024

Park Young-sik, the Korean ambassador to Bangladesh, called for bilateral collaboration and engagement with Dhaka in new business domains in order to fortify the two nations' existing ties.

He enumerated deep-sea fishing, footwear, ICT, pharmaceuticals, shipbuilding and ship-breaking, blue economy, agriculture, and agricultural machinery as potential businesses for both countries.
The envoy was the keynote speaker at the session on investment services via the One Stop Service Portal.
The event was held in a hotel in the city and was organised by the Bangladesh Investment Development Authority (BIDA) and the Korea Bangladesh Chamber of Commerce and Industry (KBCCI).

The special guest was Mohsina Yasmin, a Grade 1 Executive Member of BIDA International, which promotes local investment. KBCCI President Shahab Uddin Khan chaired and conducted the seminar.

Park noted that South Korea's cooperation in the RMG sector in Bangladesh has been a driving force behind the strengthening of bilateral ties between the two countries over the past 50 years.

He asserted that there have been some noteworthy and significant developments in recent years on broadening the scope of cooperation outside the RMG, including the infrastructure and industrial sectors.
The ambassador also said that the two countries' trade ministries are currently discussing whether or not to begin bilateral negotiations for an Economic Partnership Agreement (EPA). The EPA would greatly increase investment and trade between the two countries if it were to be successful.

The envoy also recommended establishing a structure for twice-yearly discussions about the business environment.

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