Problems of nearly 200 Korean companies discussed, CEPA draft targeted for finalisation in December
Photo: Collected
Bangladesh and South Korea have agreed to finalise the draft of the Comprehensive Economic Partnership Agreement (CEPA) by December. Once the draft is finalised, preparations will begin for its formal signing at a high level.
South Korean Ambassador to Bangladesh Kim Ji-hoon held a bilateral meeting with Commerce Minister Khandaker Abdul Muktadir at the Secretariat today, Tuesday (10 November). The ambassador expressed interest in finalising the CEPA quickly to boost trade and economic relations between the two countries. He also said South Korea has already informed Bangladesh of its position on the draft agreement and a detailed questionnaire. The meeting discussed finalising the agreement and the next steps in detail.
The ambassador raised various operational challenges faced by about 200 Korean companies operating in Bangladesh. In particular, he requested the removal of administrative complications in importing research materials and samples for Samsung’s research and development (R&D) centre, delays in the release of import permits (IP), and customs-related policy barriers.
The commerce minister assured that the operational and import-related problems of Korean investors would be resolved on a priority basis. He also assured necessary cooperation to increase Korean investment. The minister said a joint coordination meeting involving the commerce ministry, the National Board of Revenue (NBR), the finance ministry and Korean investors would be held soon to resolve policy issues quickly.
Khandaker Abdul Muktadir instructed that a joint secretary of the commerce ministry be made focal point to quickly remove import complications faced by Korean investors, including Samsung. He said work is under way to simplify the visa process and to complete the entire process of issuing import permits online and in real time.
Cooperation in shipbuilding
Increasing cooperation in the shipbuilding sector was also discussed. The commerce minister proposed setting up a specialised ‘Design and Development Centre’ in Bangladesh for joint investment in the sector and to make use of local engineers and manpower. He also spoke of the potential to meet global demand through joint ventures using skilled local manpower.
The ambassador responded positively to the proposal. He expressed interest in exploring opportunities for long-term technology transfer and joint investment in coordination with the country’s top shipbuilders, Hanwha Ocean and Hyundai Heavy Industries. Supply of liquefied natural gas (LNG) was also discussed at the meeting.
Commerce Secretary Sharaf Uddin Ahmed Chowdhury, Additional Secretary (WTO) Khadija Naznin and other senior officials of the ministry were present at the meeting.
Background
The Korea Times, citing South Korean news agency Yonhap, reported on 4 August that the two countries reached an agreement in principle on the CEPA that day. Some media outlets in Bangladesh described that day’s event as the signing of the agreement; accounts differ by source.
bdnews24.com reported on 3 November that, following CEPA talks, the two countries agreed to form a joint working group to identify priority sectors.
By the numbers
Japanese trade body JETRO, citing the Export Promotion Bureau (EPB), reported in August that Bangladesh’s exports to South Korea in the 2025-26 fiscal year were about $421 million, 9 percent lower than the previous fiscal year; imports from Korea in the 2024-25 fiscal year were about $1.2 billion.
Sources
Background sources: The Korea Times (Yonhap), 4 August 2026; bdnews24.com, 3 November 2026; JETRO, 6 August 2026
