Foreign Minister Dr Hasan Mahmud today said Dhaka is actively considering signing Economic Partnership Agreement (EPA) with South Korea to boost bilateral trade and investment cooperation between the two countries.
He also highlighted the importance of new arrangements for the enhancement of cooperation with Korea after Bangladesh’s graduation from LDC status in 2026, as Korean Ambassador to Bangladesh Park Young-sik paid his maiden call on him at the Foreign Ministry here, said a press release here.
The foreign minister expressed his satisfaction over the 50 years of friendly bilateral relations between Bangladesh and South Korea.
He thanked the Korean government for providing seven luxurious vehicles to Bangladesh recently to commemorate the 50 years of diplomatic relationship.
Hasan Mahmud appreciated Korea for allowing preferential market access for a good number of Bangladeshi products.
He thanked Korea for continuously being one of the major foreign investors in Bangladesh.
He referred to the Bangladesh’s rapidly growing economy and invited more Korean investments in the fields of light engineering, electronics, home appliances, infrastructure development and ICT sectors.
The minister thanked KOICA for initiating the feasibility study for Metro Rail Project in Chattogram which is in good progress.
He requested the ambassador for arranging necessary funds by the Korean Government to implement the project.
Hasan Mahmud also thanked Korea for increasing the quota for Bangladeshi skilled workers under its Employment Permit System (EPS) scheme.
However, he said, Bangladesh could not fulfill the quota of 10,200 persons last year due to language learning problem.
The Korean envoy informed that the Ministry of Expatriates Welfare and Overseas Employment of Bangladesh is addressing this issue.
They have already designated 2 Technical Training Centres (TTC) in Bangladesh where the Koreans can provide necessary training of language and technology.
The minister and the ambassador also discussed on strengthening cooperation on Avoidance of Double Taxation, Revision of Air Services Agreement, exchange of high-level visits as well as having further collaboration for the modernization and upgrading of Bangladesh’s existing industries, particularly RMG through direct or joint venture investments in Man-Made Fiber (MMF) and through the exchange of knowledge, expertise and technology.
