South Korea willing to help in developing Bangladesh pharma and ICT sectors: ambassador
Noting that South Korea has played a key role in developing Bangladesh's RMG sector to become the world's second-largest exporter, Ambassador Lee Jang-Keun highlighted the importance of furthering bilateral commercial ties beyond RMG to various sectors such as bio-pharmaceutical and ICT.
Attending a virtual discussion today on trade and investment opportunities between Bangladesh and South Korea, Ambassador Lee spoke of Korea's further commitment. He also added that Samsung R&D Institute has been operating in Dhaka since 2011, employing 460 young software developers in Bangladesh and that Korea Export Processing Zone (KEPZ) has recently inaugurated a 100-acre Hi-tech Park within its premises.
Ambassador Lee pointed out that despite the growth of overall trade volume of the two countries respectively, bilateral trade has remained at a standstill for the past decade with a trade volume of $1.7 billion. To realise the full potential of the South Korea-Bangladesh commercial ties, he emphasised the importance of fostering a business-friendly environment, including addressing the challenges faced by companies doing business with the other country, particularly in tax and tariff policy, repatriation of profit, and streamlining administrative procedures.
The virtual discussion, organised by the Embassy of the People's Republic of Bangladesh in Seoul, was also attended by Salman F Rahman, advisor to the Prime Minister on Private Industry and Investment; Paban Chowdhury, Executive Chairman of BEZA; Md Sirazul Islam, Executive Chairman of BIDA; Sultana Afroz, Secretary and CEO of PPPA; and Md Nazrul Islam, Executive Chairman of BEPZA.
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