Bangladesh and South Korea have agreed to finalise the draft Comprehensive Economic Partnership Agreement (CEPA) by December 2026, paving the way for its formal signing at a high-level meeting.
The decision was reached during a meeting between Commerce Minister Khandakar Abdul Muktadir and South Korean Ambassador to Bangladesh Kim Ji-joon at the Secretariat in Dhaka on Tuesday, 10th November.
According to the Export Promotion Bureau (EPB) and Bangladesh Bank, bilateral trade between the two countries reached US$1.65 billion in the 2024–25 fiscal year (FY25). Bangladesh imported goods worth US$1.18 billion from South Korea, while its exports to the country amounted to US$462 million.
During the meeting, the commerce minister assured Korean investors that the government would give priority to resolving their operational and import-related difficulties to facilitate business and encourage further investment.
He also proposed establishing a specialised Design and Development Centre in Bangladesh through joint investment in the shipbuilding sector, utilising the country’s skilled engineers and workforce.
Ambassador Kim expressed South Korea’s interest in finalising the CEPA at the earliest to strengthen bilateral trade and economic cooperation. He said Seoul had already communicated its position on the draft agreement and submitted a detailed questionnaire to Bangladesh.
Both sides discussed the remaining steps towards completing the draft and preparing for its formal signing.
The ambassador also highlighted operational challenges faced by around 200 South Korean companies operating in Bangladesh. Among the concerns were administrative complications in importing research materials and samples for Samsung’s Research and Development (R&D) Centre, delays in issuing import permits (IPs) and difficulties arising from customs regulations.
In response, Muktadir directed the Commerce Ministry to appoint a joint secretary as a focal point to expedite the resolution of import-related issues affecting Samsung and other Korean investors. He also said the government was working to simplify visa procedures and introduce a fully online, real-time system for issuing import permits.
The minister further proposed a joint coordination meeting involving the Commerce Ministry, National Board of Revenue (NBR), Finance Ministry and Korean investors to address policy-related concerns and improve the business environment.
The proposed shipbuilding Design and Development Centre was another key focus of the discussions. Muktadir highlighted opportunities for joint ventures that could combine Korean technology and investment with Bangladesh’s engineering expertise and skilled workforce to meet growing global demand.
The ambassador welcomed the proposal and expressed interest in exploring long-term technology transfer and joint investment opportunities with major South Korean shipbuilding companies, including Hanwha Ocean and Hyundai Heavy Industries.
The two sides also discussed potential cooperation in liquefied natural gas (LNG) supply.
Commerce Secretary Sharf Uddin Ahmed Choudhury, Additional Secretary (WTO) Khadiza Nazneen and other senior ministry officials attended the meeting.
