Noting that South Korea has played a key role in developing Bangladesh’s RMG sector to become the world’s second largest exporter, Ambassador Lee Jang-Keun stressed the importance of expanding bilateral trade ties beyond the RMG to various sectors. such as bio-pharmaceuticals and ICT.
Watching a virtual debate on trade and investment opportunities between Bangladesh and South Korea today, Ambassador Lee spoke of Korea’s further commitment. He added that the Samsung R&D Institute has been operating in Dhaka since 2011, employing 460 new software developers in Bangladesh, and that Korea Export Processing Zone (KEPZ) recently inaugurated a 100-acre high-tech park on its premises.
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Ambassador Lee pointed out that despite the increase in the total trade volume of the two countries respectively, bilateral trade has remained stagnant over the last decade with a trading volume of $ 1.7 billion. To capitalize on the full potential of South Korea-Bangladesh’s trade links, he emphasized the importance of developing a business-friendly environment, including addressing the challenges facing companies operating with the other country, in particular in tax and tariff policy. the repatriation of profits. and streamlining of administrative procedures.
The virtual debate, organized by the Embassy of the Democratic Republic of Bangladesh in Seoul, was also attended by Salman F Rahman, the Prime Minister’s Adviser on Private Industry and Investment. Paban Chowdhury, Executive Chairman of BEZA; K. Sirazul Islam, Executive Chairman of BIDA; Sultana Afroz, Secretary and CEO of PPPA; and Mr. Nazrul Islam, Executive Chairman of BEPZA.