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Bangladesh-South Korea have great potential to boost trade: BGMEA

Bangladesh and South Korea have great potential to derive more mutual trade benefits through collaboration, especially in the area of apparel and textile industry, said Faruque Hassan, President of BGMEA.

Figure: BGMEA President Fauque Hassan greeting Ambassador Lee Jang-keun of South Korea to Bangladesh.

“There are huge opportunities for Bangladesh and South Korea to further engage in trade and investment and develop mutually beneficial economic ties,” he remarked during a meeting with Ambassador of South Korea to Bangladesh Lee Jang-keun who paid a courtesy visit to BGMEA in Gulshan, Dhaka on January 16.

BGMEA Vice Presidents Shahidullah Azim and Miran Ali, First Secretary of the Embassy of South Korea Lee Jungyoul, and former President of Dhaka Chamber of Commerce and Industry (DCCI) and Managing Director Shasha Denims Ltd Shams Mahmud were also present at the meeting.

They had discussions about possible areas of expanding trade between Bangladesh and South Korea and how both countries can collaborate in a meaningful way to pave the way for boosting bilateral trade.

BGMEA President Fauque Hassan requested Ambassador Lee Jang-keun to encourage Korean businessmen to invest in backward linkage industry of Bangladesh, especially the non-cotton textile sector.

The Korean envoy pointed to extending incentive facility to RMG factories inside the export processing zone (EPZ) against their exports to new markets.

BGMEA President Faruque Hassan expressed thanks to the Ambassador of Korea for his visit and for showing interest in collaboration in increasing mutual trade between the two Asian countries.

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