‘Take Bangladesh-South Korea relationship to new heights’

Bangladesh and South Korea want to take their bilateral relationship to new heights – going beyond textile to ICT, energy, blue economy, climate change and infrastructure development, said diplomats and academicians, as the two countries celebrate 47th year of diplomatic relationship on December 18.

They suggested going for free trade agreement (FTA) quickly, as Bangladesh is on track to graduate from least developed country (LDC) category by 2024, when duty-free facilities could be withdrawn.

Emphasising the cordial relationship between Bangladesh and Korea, Korean Ambassador to Bangladesh Lee Jang-Keun, at a webinar, said the relationship needs to be elevated to new heights.

The event "Bangladesh-Republic of Korea: The 47th Anniversary of Diplomatic Ties" was jointly organised by the South Korean Embassy in Dhaka and the South Asian Institute of Policy and Governance (SIPG) of North South University (NSU) yesterday.

Bangladesh Foreign Secretary Masud Bin Momen said Bangladesh is rapidly growing and becoming a lucrative investment destination.

Khondker Talha, director general of Bangladesh Foreign Ministry's East-Asia wing, proposed establishment of a human resources development centre, where Bangladeshis can receive advanced technical skills for placement  in Korea or Bangladesh.

Shin Dong Woo, director at South Korea's foreign ministry (Asia and Pacific Division 2), said Korean companies have interests but they sometimes question about red tape, unknown risks and business environment before considering investment in Bangladesh.

Youngone Corporation Chairperson Ki-hak Sung said Youngone is the first Korean company that set up business in Bangladesh about four decades back, and had an excellent experience throughout the period.

Prof Choe Wongi, head of Center for ASEAN-Indian Studies in Korea, said Korea has been too focused in East-Asian countries, but gradually it is moving to ASEAN and South Asia. Over the years, about 1,000 Korean companies relocated to Vietnam from China. In South Asia, Bangladesh is a priority country after India.

NSU Vice Chancellor Prof Atiqul Islam said his university is eager to exchange students with Korean universities and train graduates to be employable in Korea.

Shahidul Haque, former foreign secretary and senior fellow at SIPG, moderated the discussion, also addressed by Bangladesh Ambassador to Korea Abida Islam, Prof Delwar Hossain of Dhaka University, and Prof Abdul Hannan Chowdhury and Prof Tawfique M Haque of NSU.