South Korean ambassador to Bangladesh Park Young-sik on Saturday reiterated his country鈥檚 commitment to continuing its long-standing cooperation with Bangladesh.
鈥楰orea is ready to be a crucial partner in Dhaka鈥檚 economic development, as we have already done in the RMG sector,鈥� he said, calling for creating more improved business environment in Bangladesh to attract further foreign investment.
The envoy also said that South Korea was keen to expand its investment in Bangladesh.
He made the remarks during a views-exchange meeting with members of the Diplomatic Correspondents Association of Bangladesh while visiting the Korean Export Processing Zone near Chattogram.
鈥楾he improvement of business-friendly, predictable and stable environment should be one of the top priorities among the interim government鈥檚 tasks in order to attract more foreign investment,鈥� Park said.
He said that the Korean embassy in Dhaka was eager to engage in further discussions with the interim government on improving the investment climate.
Park also highlighted Bangladesh鈥檚 strong growth potential, citing its steady annual economic growth rate of over 5 per cent for the past 20 years.
He expressed optimism that Bangladesh鈥檚 forthcoming graduation from Least Developed Country status in 2026 would help attract essential foreign capital needed for sustainable development.
The ambassador also underscored the significance of the ongoing discussions regarding the Economic Partnership Agreement between the two countries.
鈥楾his EPA will not only extend the Generalized System of Preferences benefits, Korea currently offers to Bangladesh, but will enhance bilateral trade and investment for mutual benefit,鈥� he added.
鈥楥urrently, numerous projects are under discussions with the Bangladesh government through the economic development cooperation fund, soft loans from the Korean government, or the public-private partnership mechanism,鈥� he continued.
The Korean embassy anticipated that the ongoing projects would make smooth progress and greatly contribute to the development of infrastructure in Bangladesh.
鈥楰orean companies do not delay any project intentionally or inflate the cost of the project deliberately, and they focus on timely completion,鈥� said the ambassador.
He further said that both countries could promote bilateral collaboration in new areas like footwear, light industries, ICT, pharmaceuticals, shipbuilding, blue economy and deep-sea fishing, agriculture and agricultural machinery, green house and carbon trading scheme.
鈥楰orean companies have new technology, while Bangladeshi companies can start new businesses,鈥� said the envoy.
KEPZ president Jahangir Saadat and DCAB president Nurul Islam Hasib also spoke at the event, focusing on deepening of economic ties between the two nations.
