Staff Reporter:
Bangladesh and South Korea have agreed to finalize the draft of the Comprehensive Economic Partnership Agreement (CEPA) by December this year, paving the way for its formal signing at a high-level meeting.
The consensus was reached during a bilateral meeting between Commerce Minister Khandakar Abdul Muktadir and South Korean Ambassador to Bangladesh Kim Ji-hoon at the Bangladesh Secretariat yesterday.
During the meeting, the commerce minister assured the South Korean investors of resolving their operational and import-related problems on a priority basis.
He also proposed establishing a specialized ‘Design and Development Centre’ in Bangladesh through joint investment in the shipbuilding sector, utilizing local engineers and skilled manpower.
The South Korean ambassador expressed his country’s keen interest in finalising the CEPA at the earliest to further expand bilateral trade and economic relations.
He said South Korea had already communicated its position to Bangladesh regarding the draft agreement and a detailed questionnaire.
The two sides discussed the finalization of the agreement and subsequent steps in detail.
The ambassador welcomed the proposal and expressed interest in exploring opportunities for long-term technology transfer and joint investment in coordination with leading South Korean shipbuilding companies, including Hanwha Ocean and Hyundai Heavy Industries.
The two sides also discussed about LNG supply.
Commerce Secretary Sharf Uddin Ahmed Choudhury, Additional Secretary (WTO) Khadiza Nazneen and senior officials of the ministry were present at the meeting.
