Published:  05:01 PM, 14 July 2019

Korean PM wants stronger collaboration with Bangladesh

Korean PM wants stronger collaboration with Bangladesh

Visiting South Korean Prime Minister Lee Nak-yon on Sunday expressed his country’s desire to take Bangladesh-Korea ties to the next level through stronger collaboration in key areas to bring mutual prosperity.

He highly appreciated Bangladesh’s significant progress over the past years and laid emphasis on cooperation in three major areas -- energy and infrastructure and ICT -- diversifying products to boost Bangladesh’s export beyond the readymade garment industry.

The Korean Prime Minister was addressing the Bangladesh-Korea Business Forum with a theme ‘Promoting Business Ties Today: Bringing Mutual Prosperity Tomorrow’ at a city hotel.

Industries Minister Nurul Majid Mahmud Humayun, Commerce Minister Tipu Munshi, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Sheikh Fazle Fahim and Korea International Trade Association (KITA) CEO and Chairman Young Ju Kim spoke at the Forum jointly organised by KITA and the FBCCI.

Prime Minister’s adviser on private industry and investment Salman F Rahman and business leaders were present.

FBCCI chief Fahim said Bangladesh has one of the most liberal and flexible investment regimes in South Asia to attract foreign direct investment. “Ease of doing business measures is being addressed at the highest level.”

He said South Korea’s Super Petrochemical has proposed investments worth US$ 2.38 billion in petrochemicals which will positively contribute towards investment relations between the two countries.

As an important trade partner, the FBCCI chief said, the bilateral trade between Bangladesh and Korea stands about US$ 1.5 billion in the last fiscal year.

The FBCCI and KITA signed a memorandum of understanding (MoU) with the FBCCI to strengthen economic and commercial relations.

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