International Desk:
A bilateral meeting between Bangladesh and South Korea was held on the sidelines of the 14th Ministerial Conference (MC14) of the World Trade Organization.
The Bangladesh delegation was led by Commerce Minister Khandaker Abdul Muktadir. The meeting was attended by Commerce Secretary Mahbubur Rahman and senior officials of the Ministry of Commerce. The South Korean delegation was led by Commerce Minister Yo Han Koo.
At the meeting, the Commerce Minister said that a new government was formed in Bangladesh through a participatory and acceptable election in February 2026, which is being led by Prime Minister Tarique Rahman. He highlighted the new government’s visionary trade policy, market diversification strategy, exploration of new export markets, and the ongoing FTA and EPA negotiations with various countries in the context of graduation from Least Developed Country (LDC).
The minister further said that Bangladesh has already concluded an Economic Partnership Agreement (EPA) with Japan and is negotiating FTA and CEPA with several countries including Korea and Singapore. He said that Bangladesh is interested in joining the Regional Comprehensive Economic Partnership (RCEP) by utilizing its geographical advantages and large consumer market, which will be beneficial for both the countries.
Mentioning the success of South Korean investment in various sectors, especially in the ready-made garment industry, the Commerce Minister called for encouraging Korean investors to invest more. He said that Bangladesh is ensuring an attractive business environment for foreign investors.
The South Korean Commerce Minister congratulated the newly formed government of Bangladesh on its victory in the recent elections and recalled the long-standing relations between the two countries. He called Bangladesh a country with a promising economy and emphasized the expansion of mutual trade cooperation.
He expressed his interest in visiting Bangladesh soon and expressed hope to take forward the ongoing FTA negotiations on bilateral trade agreements. He said that the EPA concluded by Bangladesh with Japan can be considered as a useful model in the ongoing negotiations.
Noting that the current bilateral trade volume is less than the potential, the Korean Trade Minister said that trade flows will increase significantly if cooperation in various sectors including shipbuilding, steel, manufacturing and investment is increased. They expressed interest in expanding investment in Bangladesh, especially in export-oriented industries.
During the meeting, both sides emphasized the importance of maintaining regular communication at the ministerial and expert levels, so as to ensure practical progress.
At the end of the meeting, both countries reiterated their commitment to work together to further strengthen bilateral relations and build a mutually beneficial trade and investment partnership.
