Seoul: South Korean Trade Minister Yeo Han-koo met with Bangladesh's ambassador to Seoul on Friday to discuss ways to expand economic cooperation between the two countries, Yeo's office said. In the meeting with Ambassador Toufiq Islam Shatil, Yeo emphasized Bangladesh's role as a key market connecting Southeast and Southwest Asia and highlighted its importance as an economic cooperation partner for South Korea.
According to Yonhap News Agency, Yeo noted Bangladesh's abundant human resources and its consistent average growth rate of over 6 percent. He mentioned that Bangladesh's domestic market is expected to experience further growth after it graduates from the United Nations' least developed country category in 2026.
The trade minister stressed the importance of broadening bilateral cooperation, which is currently focused on the garment industry, to include various sectors such as electronics, digital, and carbon neutrality, as stated by the Ministry of Trade, Industry and Energy.
This week, South Korea and Bangladesh initiated their official negotiations for a comprehensive economic partnership agreement, marking a significant step towards strengthening economic ties between the two nations.