Bangladesh and South Korea have agreed to strengthen bilateral trade and investment cooperation, as both sides explore new policy frameworks and economic partnerships during high-level talks at the WTO Ministerial Conference.
The meeting took place on the sidelines of the 14th World Trade Organization Ministerial Conference (MC14) in Yaoundé, where Bangladesh’s Commerce Minister Khandaker Abdul Muktadir held discussions with South Korean Trade Minister Yeo Han-koo.
During the talks, Khandaker Abdul Muktadir outlined Bangladesh’s evolving trade policy strategy, emphasising market diversification, foreign investment expansion, and preparations for the country’s transition from Least Developed Country (LDC) status. He said the government is actively pursuing free trade agreements and economic partnership agreements to secure long-term economic resilience.
Bangladesh has already concluded an economic partnership agreement with Japan and is currently negotiating similar frameworks, including Free Trade Agreements and comprehensive economic partnership agreements, with multiple partners such as South Korea and Singapore.
The commerce minister also highlighted Bangladesh’s interest in joining the Regional Comprehensive Economic Partnership, pointing to the country’s strategic location and growing consumer market as key advantages for regional trade integration.
From an investment perspective, Bangladesh encouraged increased South Korean participation in industrial sectors, including manufacturing and export-orientated industries. Officials noted that South Korean investments have already played a significant role in the development of Bangladesh’s readymade garment sector.
Yeo Han-koo described Bangladesh as a “promising economy” and expressed interest in expanding economic engagement. He suggested that the Bangladesh–Japan Economic Partnership Agreement could serve as a reference model for ongoing bilateral negotiations between Dhaka and Seoul.
Both sides acknowledged that current trade volumes remain below potential and identified key sectors for expansion, including shipbuilding, steel, manufacturing and broader industrial investment.
The discussions also carry implications for energy and industrial policy, as deeper trade integration and investment flows are expected to support infrastructure development, energy demand growth and industrial capacity expansion in Bangladesh.
Officials from both countries agreed to continue engagement through ministerial and technical-level discussions to ensure progress in trade negotiations and investment cooperation.
The meeting concluded with a shared commitment to strengthening economic ties and advancing a mutually beneficial partnership between Bangladesh and South Korea.
