Bangladesh and South Korea have agreed to finalize the Comprehensive Economic Partnership Agreement (CEPA) at the earliest opportunity to elevate bilateral economic ties to new heights. The agreement was reached during a meeting in Seoul between Bangladesh Investment Development Authority (BIDA) Executive Chairman Ashik Chowdhury and South Korean Minister for Trade Yeo Han-koo.
According to a BIDA press release, both sides described the CEPA as a timely initiative that will pave the way for enhanced investment and trade cooperation as Bangladesh graduates from the Least Developed Country (LDC) category. The two countries reached a consensus on several areas aimed at strengthening trade, investment, and institutional collaboration.
During the meeting, BIDA Chairman Ashik Chowdhury said, “South Korea has long been a trusted development partner of Bangladesh. We want to see CEPA finalized soon. The agreement will help expand Korean investments in sectors such as electronics, mobility, renewable energy, textiles, and infrastructure.”
He added that BIDA had already begun working to simplify and modernize issues related to customs, remittance, and taxation that Korean investors had raised during discussions. “Through our 32-point Investment Climate Reform Agenda, we are taking initiatives to address these challenges. The process is advancing under the supervision of the Chief Adviser’s Office,” he said.
Minister Yeo Han-koo praised Bangladesh’s economic progress, saying, “Bangladesh is moving forward rapidly. Its development in modern manufacturing and service sectors is truly commendable. We are eager to be part of this growth journey.” He also mentioned that, as a former World Bank official, he had visited Bangladesh multiple times and witnessed the country’s progress closely.
During the discussion, Ashik Chowdhury invited the South Korean Trade Minister to visit Bangladesh, saying, “We would like Korean business delegations to come and see firsthand how we have brought real transformation in infrastructure, digital services, and business reforms.”
Currently, South Korean investments in Bangladesh amount to approximately USD 1.56 billion, with more than 150 Korean companies operating in the country. South Korea ranks as Bangladesh’s fifth-largest foreign investor.
According to the 2025 World Investment Report by the United Nations Conference on Trade and Development (UNCTAD), South Korea’s outward foreign investment stood at USD 49 billion in 2024, placing it among the world’s top ten investing nations.
The Bangladeshi delegation led by BIDA Executive Chairman Ashik Chowdhury will remain in South Korea until October 25. Earlier, on October 21, they attended an investment seminar in Seoul titled “Gateway to Growth: Invest in Bangladesh,” which drew participation from over 150 Korean investors. With technical support from IFC Bangladesh, the delegation also held several government-to-business (G2B) meetings with leading Korean industrial groups.
