The Dhaka Chamber of Commerce and Industry on Monday sought enhanced technological cooperation from South Korea to strengthen Bangladesh鈥檚 industrial capacity and attract more foreign direct investment.
During a meeting with South Korean ambassador to Bangladesh Park Young Sik, DCCI president Taskeen Ahmed highlighted the trade and investment ties between the two countries.
A press release issued by the DCCI said that bilateral trade amounted to $1.39 billion, with imports and exports recorded at $902.90 million and $491.73 million respectively in the 2023-24 financial year.
South Korea has already invested $1.56 billion in sectors like RMG, shipbuilding, leather and information technology, the press release mentioned.
Taskeen urged South Korea to hire more skilled workers from Bangladesh, noting the growing competence of young Bangladeshi freelancers in the semiconductor industry.
He also sought South Korea鈥檚 support in advancing technological cooperation, emphasising the potential for FDI in emerging sectors such as electronics, automobiles, and APIs.
Ambassador Park Young Sik underscored the importance of easing visa issuance and renewal processes, speeding up customs clearance and maintaining a competitive corporate tax rate to attract foreign investors.
He praised Bangladesh鈥檚 strategic location, abundant human resources and large consumer market as key strengths for FDI.
Young Sik noted South Korea鈥檚 ongoing assistance in establishing technical training centers to create a skilled workforce.
He also emphasised that Bangladesh鈥檚 graduation from LDC status in 2026 presented an opportunity for joint ventures between South Korean and Bangladeshi companies, enabling access to advanced technologies to address post-LDC challenges.
DCCI senior vice-president Rajeev H Chowdhury urged South Korean agro-based investors to explore joint ventures in Bangladesh鈥檚 agro-processing sector.
DCCI vice-president Md Salim Solaiman and officials from the South Korean embassy also attended the meeting.