Editorial, News & commercial office:
55/A, H M Siddique Mansion (Level-7), Purana Paltan, Motijhel C/A, Dhaka-1000. Phone: +8802226640056,
e-mail: [email protected], [email protected]
Commerce Minister Khandakar Abdul Muktadir
Bangladesh and South Korea's proposed Comprehensive Economic Partnership Agreement (CEPA) is expected to open a new chapter in bilateral economic cooperation by strengthening trade, investment and long-term commercial ties, Commerce Minister Khandakar Abdul Muktadir has said.
He made the remarks while addressing a dinner hosted in honour of South Korean Trade Minister Yeo Han-koo at Hotel Sonargaon in Dhaka on Monday, according to a press release.
Muktadir said the proposed CEPA is more than a trade agreement, describing it as a framework that will lay the foundation for a durable economic partnership between the two countries.
He praised South Korea's remarkable economic transformation, calling it a model of development, and expressed optimism about expanding long-term cooperation in trade and investment.
The commerce minister said Bangladesh-South Korea relations have progressed beyond traditional development cooperation and now encompass trade, investment, industrialisation and innovation.
As Bangladesh prepares to graduate from the Least Developed Country (LDC) category, he said the CEPA would help broaden and deepen economic collaboration between the two countries in the changing global trade environment.
Speaking at the event, South Korean Trade Minister Yeo Han-koo described Bangladesh as his "second home", recalling his previous professional experience in Chattogram.
He said Bangladesh's expanding economy, growing industrial base and large consumer market present significant opportunities for greater bilateral trade and investment.
Yeo said his personal experience in Bangladesh had motivated him to prioritise the swift conclusion of the CEPA negotiations.
He noted that the agreement would provide a stable and predictable legal framework, strengthening trade, investment and economic cooperation between the two countries over the next two decades. He also encouraged businesses to take full advantage of the opportunities expected to be created by the agreement.
Muktadir also acknowledged the contribution of officials, negotiators and technical experts from both countries involved in the CEPA negotiations.
Expressing optimism, he said the agreement could be signed in the near future after the remaining legal and procedural formalities are completed.
Among those present at the programme were Bangladesh Investment Development Authority (BIDA) Executive Chairman Chowdhury Ashik Mahmud Bin Harun, Economic Relations Division (ERD) Secretary Mohammad Shahriar Kader Siddiqui and Commerce Ministry Secretary Md. Ataur Rahman Khan.
