President Mohammed Shahabuddin on Tuesday called on South Korea to further expand bilateral trade and investment with Bangladesh, highlighting the country's improved business climate and growing economic opportunities.
The President made the call when newly appointed South Korean Ambassador to Bangladesh Kim Ji-joon presented his credentials at Bangabhaban.
Press Secretary to the President Sarwar Alam briefed reporters after the meeting.
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Welcoming the envoy, President Shahabuddin said South Korea is one of Bangladesh’s largest foreign investors.
He noted that nearly 100 Korean companies, including global brands Samsung and Hyundai, are operating and investing in the Korean EPZ established by Youngone Group in Chattogram as well as in other export processing zones across the country.
The President 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 ambassador to encourage increased Korean investment in sectors such as light engineering, electronics, shipbuilding, agro-processing, information and communication technology (ICT), ready-made garments and infrastructure development.
Expressing satisfaction over the growing trade relations between the two countries, President Shahabuddin requested South Korea to continue its duty-free and quota-free market access facility for 95 percent of Bangladeshi products for at least four more years after Bangladesh graduates from the Least Developed Country (LDC) category.
The President also expressed satisfaction with the overall progress toward signing a Comprehensive Economic Partnership Agreement (CEPA) between the two countries.
Describing South Korea as an important development partner of Bangladesh, he praised the activities of Korean development agencies and said their financial assistance has contributed significantly to the country’s socio-economic development.
He also appreciated South Korea’s Employment Permit System (EPS) and sought the ambassador’s support in recruiting more Bangladeshi workers in Korean industries, particularly in shipbuilding and ICT sectors.
In response, Ambassador Kim said South Korea is keen to strengthen bilateral trade and investment ties with Bangladesh and pledged to work toward expanding cooperation in business, culture, education and other areas.
Earlier in the day, newly appointed Ambassador of Morocco to Bangladesh Lalla Bouthaina El Kerdoudi El Koulali presented her credentials to the President.
During the meeting, President Shahabuddin described Bangladesh-Morocco relations as 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 the former Bangladeshi president.
The President urged Morocco to explore opportunities for employing skilled and semi-skilled Bangladeshi workers in sectors including healthcare, agriculture, infrastructure development, textiles and garments, and ICT.
He said there remains significant potential for expanding trade and investment between the two friendly nations and stressed the importance of exchanging high-level government and private-sector trade and investment delegations to further strengthen bilateral relations.
Both ambassadors sought the President’s cooperation in carrying out their diplomatic responsibilities in Bangladesh.