Bangladesh economy can grow faster

Bangladesh has the potential to achieve in a much shorter period the level of economic development that the Republic of Korea attained over the past 70 years, Kim Ji-Joon, the newly appointed South Korean ambassador to Bangladesh, said yesterday.

He made the remarks at a reception hosted by the Korea-Bangladesh Chamber of Commerce and Industry (KBCCI) at Hotel Amari in Dhaka to welcome him, according to a press release.

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Kim said Bangladesh could accelerate its path to sustainable economic growth by drawing lessons from South Korea’s development experience while avoiding the mistakes it made along the way.

Highlighting the long-standing friendship between the two countries, he stressed the importance of deepening economic ties to ensure their shared long-term prosperity. He called for greater bilateral cooperation in trade, investment, technology transfer and joint ventures.

Speaking at the event, KBCCI President Shahab Uddin Khan reaffirmed the chamber’s commitment to strengthening bilateral trade, investment and economic cooperation between Bangladesh and South Korea. Welcoming the new ambassador, he expressed confidence that Kim’s tenure would mark a new chapter in bilateral relations and help deepen the economic partnership between the two friendly nations.

Md Nazrul Islam, secretary (bilateral) at the Ministry of Foreign Affairs, said the economic and commercial relationship between Bangladesh and South Korea had continued to strengthen over the years.

He emphasised the need to further expand cooperation through industrialisation, technology transfer, investment promotion and human resource development, while commending the KBCCI for its role in enhancing economic ties between the two countries.

During the programme, Kim presented a certificate of merit, signed by South Korean Foreign Minister Cho Hyun, to Shahab Uddin Khan in recognition of his contribution to strengthening economic cooperation, promoting bilateral trade and supporting South Korea’s diplomatic activities in Bangladesh.

Ambassadors and high commissioners from various countries, senior government officials, members of the diplomatic corps, business leaders and KBCCI members also attended the event.