Dhaka, Seoul agree to widen coop in trade
Dhaka and Seoul have agreed to further strengthen bilateral relations, with a focus on trade, investment, industrial cooperation, technology transfer and development assistance, as Dhaka seeks to expand economic ties with Seoul ahead of its graduation from least developed country (LDC) status.
Bangladesh State Minister for Foreign Affairs Humaiun Kobir held separate meetings with South Korean Deputy Minister for Trade Negotiations Hyejin Kwon and Korea International Cooperation Agency (KOICA) Vice-President Doh Young-Ah in Seoul on Thursday, discussing ways to broaden bilateral cooperation across key sectors.
During his meeting with Kwon, Kobir reaffirmed Bangladesh’s commitment to strengthening its longstanding partnership with South Korea and appreciated Seoul’s contribution to Bangladesh’s economic transformation and industrial development.
Welcoming the successful conclusion of the Bangladesh-South Korea Comprehensive Economic Partnership Agreement (CEPA) in August 2026, the state minister expressed hope that the agreement would serve as a gateway for Bangladesh to integrate more deeply into Korean and regional supply chains, particularly as the country prepares to graduate from LDC status.
He also expressed hope that the agreement would be formally signed during the proposed visit of the South Korean president to Bangladesh, subject to the completion of the necessary domestic procedures.
Highlighting the growth in bilateral trade, Kobir called for concrete measures to increase South Korean imports of Bangladeshi goods and services and gradually reduce the existing trade imbalance.
He also urged Seoul to streamline food-safety inspection and quarantine procedures for Bangladeshi agricultural, fishery and food products to facilitate greater market access.
The state minister sought South Korea’s support for Bangladesh’s accession to the Regional Comprehensive Economic Partnership (RCEP), while inviting greater Korean investment in Bangladesh.
He encouraged South Korean conglomerates and small and medium-sized enterprises (SMEs) to explore investment opportunities through joint investment promotion initiatives and government-to-government (G2G) facilitation.
Kwon welcomed the progress in bilateral economic relations and expressed South Korea’s interest in expanding trade, investment and industrial cooperation with Bangladesh, including through the CEPA framework.
In a separate meeting with KOICA Vice-President Doh Young-Ah, Kobir appreciated the agency’s longstanding contribution to Bangladesh’s socio-economic development through grant assistance, capacity building, technical cooperation and knowledge sharing.
He thanked KOICA for its US$39 million Saemaul Plus End Poverty Programme and sought further South Korean cooperation in water security, climate resilience, skills development, employment-oriented technical education and digital health.
The state minister also called for the next phase of KOICA-Bangladesh cooperation to focus on larger-scale, integrated and transformative programmes, particularly in digital transformation, artificial intelligence and digital public services.
He further requested early concurrence from the South Korean side on financing for Dhaka’s mass rapid transit (MRT) projects, alongside the Asian Development Bank (ADB).
Doh welcomed Bangladesh’s interest in expanding development cooperation and expressed KOICA’s readiness to explore new areas and programmes aligned with Bangladesh’s development priorities and South Korea’s development cooperation experience.
The meetings underscored the growing importance of Bangladesh-South Korea relations, as both countries seek to expand economic engagement, strengthen industrial partnerships and promote technology transfer.
The two sides reaffirmed their shared commitment to deepening their existing friendly partnership on the basis of mutual benefit and shared development priorities, with trade, investment, industrial cooperation and development assistance remaining key areas of engagement.
