In a significant step towards strengthening bilateral economic ties, Mr. Ashik Chowdhury, Executive Chairman of the Bangladesh Investment Development Authority (BIDA), met with H.E. Yeo Han-koo, Trade Minister of South Korea, in Seoul to discuss the roadmap for finalizing the proposed Comprehensive Economic Partnership Agreement (CEPA).
Both sides reiterated their commitment to expediting the CEPA negotiations ahead of Bangladesh’s graduation from LDC status, recognizing it as a timely opportunity to unlock new channels of Korean investment into Bangladesh’s fast-transforming economy. The two leaders engaged in in-depth discussions on enhancing trade, investment, and institutional linkages between the two nations.
“South Korea has long been a trusted partner of Bangladesh,” said Mr. Chowdhury. “We are keen to accelerate CEPA finalization, which we believe will be a catalytic tool to unlock diversified Korean investment in key sectors such as electronics, mobility, renewable energy, textiles, and infrastructure.”
Mr. Chowdhury also assured Minister Yeo that BIDA is actively addressing investor concerns. “During our visit, we engaged with Korean businesses on key enablers and structural bottlenecks,” he said. “Many of the issues raised — particularly those related to customs, remittance, and taxation are already being tackled through our 32-Point Investment Climate Reform Agenda, developed in close collaboration with the Chief Adviser’s Office.”
The South Korean Trade Minister, who in his earlier tenure as a World Bank official visited Bangladesh several times and remains an ardent supporter of the country’s development trajectory, welcomed the progress made. He reaffirmed Korea’s interest in partnering with Bangladesh as it transitions into a modern manufacturing and services hub.
The BIDA delegation extended a formal invitation to Minister Yeo to visit Bangladesh with a Korean business delegation to witness first-hand the significant progress made in infrastructure, digital services, and regulatory reforms.
With South Korean FDI stock reaching $1.56 billion across 150+ companies, South Korea is currently the 5th largest foreign investor in Bangladesh. South Korea also ranked among the top 10 FDI source economies worldwide, with $49 billion in outbound FDI in 2024, according to UNCTAD’s World Investment Report 2025. This places South Korea alongside investment powerhouses such as the United States, Japan and China.
The Bangladesh delegation led by Ashik Chowdhury is in South Korea from Oct 20-25 and has hosted a seminar in Seoul with 150+ South Korean investors. They also held a series of G2B talks with Korean conglomerates. IFC Bangladesh has provided technical cooperation for the tour.
