Bangladesh seeks expanded trade and investment with South Korea, Morocco
President Mohammed Shahabuddin today urged South Korea to enhance bilateral trade and investment with Bangladesh.
The President made the call when newly appointed South Korean Ambassador to Bangladesh, Kim Ji-joon, presented his credentials to him at Bangabhaban.
President's Press Secretary Sarwar Alam said newly appointed resident ambassadors of South Korea and Morocco presented their credentials to the President at Bangabhaban today.
Upon their arrival, a smartly turned-out contingent of the President Guard Regiment accorded them a guard of honour.
Ambassador of Morocco, Lalla Bouthaina El Kerdoudi El Koulali, first presented her credentials, followed by South Korean Ambassador Kim Ji-joon.
The President welcomed both the envoys to Bangladesh.
During the meeting with the South Korean ambassador, President Shahabuddin said South Korea is one of the largest investors in Bangladesh.
More than a hundred Korean companies, including globally renowned technology firms Samsung and Hyundai, are operating and investing in the Korean EPZ of the Youngone Group in Chattogram as well as in other EPZs across the country, he noted.
The Head of State said Bangladesh currently enjoys an excellent business- and investment-friendly environment following the assumption of office by a democratically elected government through a free and fair election.
He urged the new envoy to take initiatives to further expand Korean investment in Bangladesh's light engineering, electronics, shipbuilding, agro-processing, information technology, ready-made garments and infrastructure sectors.
Expressing satisfaction over the growing commercial ties between the two countries, the President requested South Korea to continue the existing duty-free and quota-free market access facility for 95 percent of Bangladeshi products for at least four more years after Bangladesh's graduation from the LDC category.
He also expressed deep satisfaction over the overall progress towards signing the Comprehensive Economic Partnership Agreement (CEPA) between the two countries.
The President described South Korea as one of Bangladesh's key development partners and appreciated the contributions of Korean development agencies, saying their loan assistance has significantly contributed to the country's socio-economic development.
Praising South Korea's Employment Permit System (EPS), he sought the ambassador's cooperation in recruiting more Bangladeshi workers in the country's shipbuilding, ICT and other industrial sectors.
The South Korean ambassador said his country is keen to enhance bilateral trade and investment with Bangladesh and expressed commitment to strengthening cooperation in trade, culture, education and other areas.
Earlier, during a meeting with the Moroccan ambassador, President Shahabuddin said bilateral relations between Bangladesh and Morocco are excellent and steadily progressing.
He recalled the 1981 visit of late President Ziaur Rahman to Morocco and expressed gratitude to the Moroccan people for naming a road in Rabat after him.
The President urged the Moroccan envoy to work for recruiting skilled and semi-skilled Bangladeshi workers in Morocco's healthcare, agriculture, infrastructure construction, ready-made garments, textiles, ICT and other sectors.
He said there remains significant scope for strengthening trade and investment relations between the two friendly countries and stressed the importance of exchanging high-level government and private-sector trade and investment delegations to further enhance bilateral ties.
The newly appointed ambassadors sought the President's cooperation in discharging their responsibilities in Bangladesh.
Secretaries concerned to the Bangabhaban and foreign ministry and senior officials concerned were present there.
