Ministry of Industry Holds Online Briefing on 'Korea-Bangladesh Trade and Investment'
[Asia Economy Reporter Kwon Haeyoung] The Ministry of Trade, Industry and Energy jointly held the 'Korea-Bangladesh Trade and Investment Briefing Session' online on the 27th with the Ministry of Commerce of Bangladesh, KOTRA, and the Korea Importers Association.
This briefing session is a follow-up measure agreed upon after the visit of the Korean Prime Minister to Bangladesh in 2019, where both countries agreed to cooperate to expand mutual trade and investment. Bangladesh, the world's 8th most populous country with a population of 160 million, has maintained high growth of over 6% annually since 2011, based on being the world's second largest apparel exporter. The Bangladeshi government is actively promoting diversification and advancement of manufacturing through expansion of insufficient energy and infrastructure and attraction of foreign direct investment to maintain the current high growth trend.
Through this briefing session, the Ministry of Trade, Industry and Energy expects to contribute to market diversification of Korean companies and globalization of the 'K-New Deal' by enhancing understanding of the Bangladeshi market, where domestic market expansion and infrastructure development are actively taking place.
Jeon Yoonjong, Director General of Trade Cooperation at the Ministry of Trade, Industry and Energy, emphasized in his opening remarks that Korean companies contributed to Bangladesh's growth as the world's second largest apparel exporter and proposed expanding cooperation in industrial structure advancement and energy and infrastructure sectors in the future.
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The Bangladesh Trade Development Authority introduced the local investment environment and opportunities, KOTRAsms Bangladesh economic trends, and promising sectors for entry. Several companies already operating locally or interested in entering, such as Heerim Architects and Woojin Plasm, also participated and engaged in active discussions and consultations.
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