‘Bangladesh, South Korea have great potential to further economic ties’
Ambassador of South Korea to Bangladesh Lee Jang-keun today stressed that the two countries have great potential to further develop mutually beneficial economic ties.
The South Korean envoy said this at a roundtable meeting on South Korea-Bangladesh economic relations held at the World Trade Center in Chattogram, organised by the Embassy of the Republic of Korea in cooperation with Chittagong Chamber of Commerce and Industry (CCCI) and Korea-Bangladesh Chamber of Commerce and Industry (KBCCI).
"The first roundtable meeting in Chattogram, the gate to Bangladesh, would be another step towards the end and serve as valuable opportunity to further untap the bilateral economic potential," Ambassador Lee said, while making a presentation on South Korea-Bangladesh relations focusing on trade and investment.
He also reaffirmed his commitment for making efforts to elevate the bilateral relations to a new height and diversify the areas of cooperation through more engagement with the business community in Chattogram.
Ambassador Lee also called upon the CCCI to provide support to the Korean business community in Chattogram for successful operation of their businesses in the port city, mentioning the necessity of listening to the existing investors in order to attract more Korean companies.
Appreciating the strong economic ties between the two friendly nations, the participants discussed opportunities and challenges in further promoting bilateral economic partnership.
They also opined that the South Korea and Bangladesh should seek to expand areas of economic cooperation to infrastructure, ICT, and health sectors, among others, based on the history of successful cooperation in ready-made garment (RMG) sector, in which Chattogram has been playing a crucial role.
CCCI members expressed the organisation's readiness to increase their business relations with Korean companies and proposed more interactions and programmes to this end.
Business leaders from both countries including Mostafa Kamal, president of KBCCI and chairman of Meghna Group of Industries(MGI); Mahbubul Alam, president of CCCI; Young-oh Ryu, president of the Korean Association in Bangladesh; Jinhyuk Paik, president of the Korean Association in Chattogram, among others -- joined the meeting. Representatives of Korean companies operating in Chattogram, including Youngone Corporation, were also present at the meeting.
Chattogram has been an important base for the Korean investors and hosts more than 40 Korean companies at present, including Youngone Corporation, BESTEC, GIANT, MZM Textile, HKD, Young An Hat, Pacific Zipper, UJIN, NEO PRINTEC, GH HAEWAE, LHOTSE, among others.
Youngone Corporation, the first Korean investor in Bangladesh's RMG sector and also the operator of the Korean Export Processing Zone (KEPZ) in Chattogram, set up its first factory in the city in 1980 and currently employs more than 75,000 local workers across the country.
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