PM seeks South Korean investment in electronics, semiconductor sectors

Trade Minister of South Korea Yeo Han-koo paid a courtesy call on Prime Minister Tarique Rahman. The meeting was held at the Cabinet Division of the Bangladesh Secretariat on Monday, August 3.

Prime Minister's Deputy Press Secretary Shahadat Hossain Swadhin said the Prime Minister invited the South Korean President to visit Bangladesh during the meeting.

At the beginning of the meeting, the South Korean Trade Minister briefed the Prime Minister on the upcoming Comprehensive Economic Partnership Agreement (CEPA) to be signed between Bangladesh and South Korea. He said the agreement, once effective, would further enhance trade and economic cooperation between the two countries and significantly increase South Korean investment in Bangladesh.

Yeo Han-koo said many South Korean companies are already successfully doing business in Bangladesh. Many more companies are interested in investing in Bangladesh in the future.

During the meeting, the Prime Minister called on South Korean companies to invest in Bangladesh's toy, electronics, telecommunications, automobile manufacturing, semiconductor and shipbuilding sectors.

The Prime Minister said South Korea has demonstrated global expertise in the shipbuilding industry, while Bangladesh has a promising workforce. If South Korea wishes, it can set up training centres in Bangladesh to provide skill and language training to workers for employment in its shipbuilding industry.

He further said the government would provide necessary cooperation if South Korean companies invest in Bangladesh's shipbuilding sector.

The meeting also discussed plans to organise a seminar on South Korean investors in Bangladesh. Additionally, the South Korean Trade Minister was briefed on various government initiatives to create an investment-friendly environment.

The South Korean Trade Minister said these proposals from Bangladesh would further strengthen the future relationship between the two countries.

Present on the Bangladesh side at the meeting were Commerce, Industry, Textiles and Jute Minister Khandaker Abdul Muktadir, Prime Minister's Adviser for Finance and Planning Rashed Al Mahmud Titumir, Foreign Affairs Adviser Humayun Kabir, Bangladesh Investment Development Authority (BIDA) Executive Chairman Ashik Chowdhury, and other concerned officials.