Commerce Minister Khandakar Abdul Muktadir today said the proposed Comprehensive Economic Partnership Agreement (CEPA) between Bangladesh and South Korea would usher in a new era of economic cooperation by elevating bilateral relations to a higher level. "The CEPA is not merely a bilateral trade agreement; it will serve as a strong foundation for a long-term economic partnership between the two countries," he said while addressing a dinner hosted in honour of South Korean Trade Minister Yeo Han-koo at Hotel Sonargaon in the capital, said a press release.
Remarkable Economic Transformation
The minister praised South Korea's remarkable economic transformation, describing it as a unique model of development, and expressed hope for building a long-term partnership in trade and investment. He said Bangladesh-South Korea relations have evolved beyond development cooperation into a robust partnership encompassing trade, investment, industrialisation and innovation.
Swift Conclusion of Negotiations
As Bangladesh prepares for graduation from the Least Developed Country (LDC) category and enters a new phase of global economic engagement, Muktadir said the CEPA would deepen and diversify bilateral economic cooperation. Speaking at the event, South Korean Trade Minister Yeo Han-koo described Bangladesh as his second home, recalling his previous working experience in Chattogram. He said Bangladesh's expanding economy, growing industrial base and large consumer market offer immense opportunities for enhancing trade and investment between the two countries.
Yeo Han-koo said he had prioritised the swift conclusion of the CEPA negotiations based on his personal experience in Bangladesh. He noted that the proposed agreement would strengthen bilateral investment and economic partnership over the next two decades by establishing a stable and predictable legal framework, and urged the business community to make the best use of the opportunities the agreement would create. Muktadir also commended the professionalism and dedication of the officials, negotiators and technical experts from both countries involved in the CEPA negotiations.
Expressing optimism, he said the agreement would be formally signed in the near future after completion of the remaining legal and procedural formalities. Among others, Executive Chairman of the Bangladesh Investment Development Authority (BIDA) Chowdhury Ashik Mahmud Bin Harun, Economic Relations Division (ERD) Secretary Mohammad Shahriar Kader Siddiqui and Commerce Ministry Secretary Md. Ataur Rahman Khan attended the programme.
