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Dhaka, Seoul keen to conclude economic partnership deal

Published : Friday, 4 October, 2024 at 12:00 AM  Count : 262
Business Correspondent
Bangladesh and South Korea have expressed keen interest in advancing negotiations to conclude an Economic Partnership Agreement (EPA) aimed at addressing the growing trade gap between the two countries.

The desire was highlighted during a meeting between South Korean Ambassador to Bangladesh Park Young-sik and Foreign Secretary Md. Jashim Uddin at the Foreign Ministry on Wednesday, a press release said.

During the meeting, both sides agreed that the proposed EPA would facilitate achieving sustainable and balanced growth in bilateral trade and help to foster deeper economic cooperation.

Park congratulated Bangladesh foreign secretary on his recent appointment, expressing optimism that under his leadership, Bangladesh and South Korea's longstanding bilateral relations would continue to strengthen.

The foreign secretary praised South Korean government positive outlook towards Bangladesh's newly formed interim government and for maintaining confidence in its ability to restore peace and stability in the country.

He also praised the upward trend in the bilateral trade volumes, acknowledging South Korea's role as a key foreign investor in Bangladesh. Moreover he expressed appreciation for South Korea's preferential market access to Bangladeshi goods under the Least Developed Countries (LDC) framework and Asia-Pacific Trade Agreement.

The envoy moreover emphasized the importance of creating a business-friendly, predictable, and stable environment to attract more foreign investment. He said Korean Embassy in Dhaka is keen to engage with the interim government to discuss ways to improve Bangladesh's investment climate.

The foreign secretary thanked the ambassador for South Korea's Employment Permit System (EPS), which has provided job opportunities for Bangladeshi workers in South Korea.

He also expressed the hope that the Korean government would consider increasing the intake of Bangladeshi nationals in various sectors such as agriculture, fisheries, and shipbuilding.

He further said that the number of scholarships provided to Bangladeshi students by South Korea should be increased in the future.

Both sides reaffirmed their commitment to fostering cooperation in international forums to uphold global peace and security, promote free trade, and support each other on the global stage, the press release said.



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