Bangladesh and South Korea have agreed to establish a joint government-private sector working group. The decision follows the conclusion of negotiations on a Comprehensive Economic Partnership Agreement (CEPA).

The working group will identify investment opportunities, address business concerns and strengthen bilateral trade. It will include government agencies and chambers of commerce from both countries.

The two sides reached the decision during a meeting in Seoul. Finance and Planning Minister Amir Khosru Mahmud Chowdhury met South Korean Trade Minister Jung-sung Park to discuss future economic cooperation.

Amir Khosru highlighted opportunities to expand economic relations beyond the traditional textile and garment sectors. He identified electronics, semiconductors, shipbuilding, renewable energy and artificial intelligence as promising areas for cooperation.

Other potential sectors include pharmaceuticals, medical devices, agro-processing, logistics, advanced manufacturing and infrastructure.

The minister also outlined Bangladesh’s efforts to improve its investment climate. These include simplifying capital repatriation, streamlining customs procedures and reducing import duties on raw materials for electronics from 26 percent to zero.

He encouraged greater use of government-to-government partnerships and public-private partnerships (PPPs). These approaches could help accelerate infrastructure, energy and other priority investment projects.

South Korea reaffirmed its commitment to strengthening economic ties with Bangladesh. Park also raised concerns facing Korean businesses operating in the country. The Korean side agreed to share a consolidated list of these issues for further discussion.

Separately, the Bangladesh delegation met several leading South Korean companies to explore investment and technology partnerships.

At Hyundai Glovis, discussions focused on logistics, port development and the automotive sector. Bangladesh highlighted opportunities in logistics hubs, economic zones, automotive supply chains and smart logistics.

Hyundai Glovis expressed interest in exploring business opportunities in Bangladesh. Both sides agreed to establish working-level teams to advance potential cooperation.

The delegation also met Hanwha Ocean to discuss shipbuilding, ship repair and maritime infrastructure. The discussions covered dry-docking facilities and floating storage and regasification unit (FSRU) projects.

Hanwha Ocean proposed a phased approach to cooperation. The company suggested starting with ship repair, maintenance and retrofitting before expanding into higher-value shipbuilding. Both sides agreed to continue technical discussions and arrange follow-up visits.

At Samsung Electronics, the delegation explored opportunities in electronics manufacturing, artificial intelligence, digital connectivity and workforce development.

Amir Khosru encouraged Samsung to expand its operations and introduce advanced technologies in Bangladesh. Samsung expressed interest in exploring further cooperation.

The proposed working group could help both countries translate investment discussions into practical initiatives. It could also support Bangladesh’s efforts to attract technology-driven investment and diversify its industrial base.

Source: The Daily Star