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Bangladesh, Korea Eye Stronger Economic Ties via EPA: Shafiqul
Bangladesh has formally launched negotiations with South Korea on an Economic Partnership Agreement (EPA) to strengthen bilateral economic cooperation.
“The Council of Advisers has been informed about the launch, and we hope the negotiations will conclude soon,” Chief Adviser’s Press Secretary Shafiqul Alam said during a briefing at the Foreign Service Academy on Tuesday.
He highlighted that South Korea, one of Asia’s most affluent nations, could become a significant market for Bangladesh after the agreement is finalized. The matter was discussed at a Council of Advisers meeting chaired by Chief Adviser Prof. Muhammad Yunus.
Shafiqul emphasized Bangladesh’s efforts to diversify its economy by exploring markets beyond Europe and the Americas, with South Korea as a key focus.
South Korean Ambassador Park Young-sik urged bold steps to strengthen ties, marking 50 years of bilateral relations. “Let’s take a bold step forward for a closer, brighter future,” he said, encouraging collaboration for the next 50 years.
Over five decades, Bangladesh and South Korea have built strong cooperation in trade, investment, and cultural exchange.
Additionally, Bangladesh is in talks with Japan, the world’s third-largest economy, for a similar EPA. Commerce Adviser Sheikh Bashiruddin stated that such agreements with Japan could unlock significant trade potential and new opportunities.
The press briefing was attended by Deputy Press Secretary Apurba Jahangir and Assistant Press Secretary Suchismita Tithi.