Ministry of Trade Holds Meeting with Companies Operating in Bangladesh Ahead of CEPA

As negotiations for a Comprehensive Economic Partnership Agreement (CEPA) between South Korea and Bangladesh enter their final stages, the government held a meeting with local-operating companies to discuss major pending issues, difficulties, and support strategies.

The Ministry of Trade, Industry and Energy announced that Yeo Han-koo, Minister for Trade, held a meeting today (the 29th) at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, with representatives from 10 companies in sectors such as textile manufacturing, engineering and construction, transportation, and information and communications technology (ICT) that have entered or are considering entering Bangladesh, alongside officials from two related institutions.

Corporate representatives attending the meeting requested the government to establish institutional foundations to ensure smooth market entry, including streamlined customs clearance procedures, the establishment of inter-firm cooperation platforms, and stability in foreign currency remittance and payment settlements.

Trade Minister Yeo stated, "As negotiations reach their final stages, it is crucial to verify whether the agreement's terms align with the actual business conditions of companies," adding, "Based on voices from the field, we will do our utmost to derive practical outcomes that our companies can truly feel."

Following the declaration of the launch of CEPA negotiations in November 2024, South Korea and Bangladesh have concluded discussions on agreement texts in areas such as technical barriers to trade (TBT), customs clearance, and trade facilitation through four rounds of negotiations.

Starting from the 27th, the 5th round of negotiations has been underway in Seoul to address remaining core issues regarding market opening for goods and services.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.