Bangladesh, South Korea to form working group on post-CEPA trade, investment
Bangladesh and South Korea have agreed to form a government-private sector working group to identify new trade and investment opportunities following the conclusion of negotiations on the Comprehensive Economic Partnership Agreement (CEPA).
The decision was taken at a bilateral meeting between Finance and Planning Minister Amir Khosru Mahmud Chowdhury and South Korean Trade Minister Jung-sung Park in Seoul on Monday.
The proposed working group, according to a press release issued on Tuesday morning, involving relevant government agencies and chambers of commerce, will identify priority reforms, investment opportunities and business facilitation measures, including public-private partnerships (PPPs).
Amir Khosru said the conclusion of CEPA negotiations had created an opportunity to expand bilateral economic relations beyond the traditional textile and garment sectors towards a broader, technology-driven partnership.
He identified electronics and semiconductors, shipbuilding, maritime industries, renewable energy, artificial intelligence, digital and creative industries as potential areas of cooperation.
Energy, pharmaceuticals, medical devices, agro-processing, logistics, advanced manufacturing and infrastructure were also discussed as promising sectors.
The minister briefed the Korean side on Bangladesh’s efforts to improve the investment climate, including automation of capital repatriation, reducing customs duties on raw materials for electronics from 26 percent to zero, and streamlining customs and port procedures.
He also encouraged Korean companies to explore government-to-government and PPP models for strategic infrastructure and energy projects.
Jung-sung Park reaffirmed South Korea’s commitment to its longstanding partnership with Bangladesh and raised concerns and issues faced by Korean businesses operating in the country.
The Korean side agreed to provide a consolidated list of these matters for consideration and follow-up by Bangladesh.
Korean firms explore investment opportunities
During the visit, the Bangladesh delegation also held meetings with Hyundai Glovis, Hanwha Ocean and Samsung Electronics to explore investment and technology cooperation.
At Hyundai Glovis, discussions focused on logistics, port development and the automotive sector, including opportunities in logistics hubs, economic zones, automotive supply chains and smart logistics. Both sides agreed to form working-level teams to advance potential cooperation.
Hanwha Ocean discussed shipbuilding, ship repair, dry-docking, maritime infrastructure and floating storage and regasification unit (FSRU) projects. The company proposed starting with ship repair and maintenance before moving towards higher-value shipbuilding activities.
The delegation also discussed electronics manufacturing, artificial intelligence, digital connectivity and workforce development with Samsung Electronics President Kim Woo-june.
Amir Khosru urged Samsung to consider expanding its operations and introducing advanced technology solutions in Bangladesh.
Adviser to the Prime Minister on Posts, Telecommunications and Information Technology Rehan Asif Asad, Special Assistant to the Prime Minister for Investment and Capital Market Affairs Tanvir Shahriar Ghani, ERD Secretary Md Shahriar Kader Siddiky and senior officials also attended the meetings.
The minister said Bangladesh wanted to translate the post-CEPA opportunity into higher trade and investment, technology transfer, industrial diversification and quality employment.