Experts at the “Korea-Bangladesh Economic Cooperation” event emphasized the need for an effective investment policy to attract more foreign direct investment (FDI) to Bangladesh. They highlighted that overcoming bureaucratic delays and complex procedures is crucial, and recommended signing Free Trade Agreements (FTAs) with strategic partners like South Korea to boost trade and investment.
Adilur Rahman Khan, an advisor to the interim government, reaffirmed Bangladesh’s commitment to improving its investment climate, inviting more Korean businesses to invest. Ashik Chowdhury of BIDA and BEZA assured that investor feedback on policy improvements is being addressed, with ongoing efforts to resolve challenges like power supply issues.
South Korean Ambassador Park Young-sik pointed out that FTAs with other nations have expanded Korea’s apparel imports from those countries, suggesting an FTA with Bangladesh could increase its market share. He noted that Bangladesh’s impending graduation from Least Developed Country (LDC) status by 2026 limits the time to secure trade agreements. Post-graduation, Bangladesh will face challenges like the loss of Generalized System of Preferences (GSP) benefits, requiring focused government and private sector efforts.
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