Bangladesh and South Korea are actively expanding their economic partnership through strengthened diplomatic engagement and strategic cooperation initiatives. Special Assistant to the Chief Adviser Dr Anisuzzaman Chowdhury today underscored the need for sustained diplomatic engagement and deeper strategic ties between Bangladesh and South Korea, highlighting the broad a range of collaboration that influences the development of two-sided relationships.This emphasis on deeper collaboration reflects both countries’ commitment to unlocking greater economic potential. The foundation for enhanced cooperation rests on strong existing bilateral trade relationships. In the year 2023, Bangladesh and South Korea mark five decades of diplomatic relations through cooperation in trade and cultural interactions. Bilateral trade hits a record $3.4 billion. This milestone demonstrates the growing economic integration between the two nations and sets the stage for further expansion. Infrastructure development emerges as a key area of cooperation between the countries. Bangladesh and South Korea today reiterated their strong commitment to deepen cooperation in infrastructure development as both countries identified significant opportunities to advance collaboration in the sector. The Infrastructure Project Roadshow 2025 showcases concrete efforts to connect Bangladeshi infrastructure authorities with leading Korean companies. Investment flows continue to strengthen bilateral economic ties. The accumulated stock of Korean FDI increased to $1.4 billion in FY22 from $1.1 billion two years ago, positioning South Korea as a significant foreign investor in Bangladesh. This investment growth spans multiple sectors including manufacturing, technology, and infrastructure development. The countries are working toward formalizing their economic partnership through comprehensive agreements.According to Commerce Secretary Mahbubur Rahman, Bangladesh and South Korea plan to finalize an economic partnership agreement (EPA) by the year’s end. This agreement will provide a structured framework for expanded trade and investment cooperation. Both nations recognize the mutual benefits of enhanced cooperation across various sectors. The Prime Minister of South Korea, Lee Nak-yon, has shown a keen interest in his government’s plan to invest in several growing areas in Bangladesh, including infrastructure, energy, construction, power, shipbuilding, and information and communication technology. These diverse investment interests align with Bangladesh’s development priorities. Looking ahead, the strengthened cooperation between Bangladesh and South Korea promises to unlock significant economic opportunities for both nations. With formal agreements in development and growing investment flows, the partnership is well-positioned to contribute to regional economic growth and development in the coming years.
