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Dhaka, November 03, 2024: The Foreign Investors' Chamber of Commerce and Industry (FICCI), in collaboration with the Embassy of the Republic of Korea, hosted a seminar titled "Korea-Bangladesh Economic Cooperation" today (November 3, 2024, at The Westin Dhaka. The event aimed to forge a forward-thinking economic cooperation model between Korea and Bangladesh.

Adviser to the Ministries of Industries and Housing & Public Works Adilur Rahman Khan graced the event as the Chief Guest while Executive Chairman of the Bangladesh Investment Development Authority (BIDA) and the Bangladesh Export Processing Zones Authority (BEZA) Chowdhury Ashik Mahmud Bin Harun was preset as the Special Guest.

 The seminar showcased a lineup of influential speakers, including high officials from the Korean Embassy, the Korea Trade-Investment Promotion Agency (KOTRA), KBCCI, KOTRA, KExim Bank, KIND, and representatives from various Bangladeshi and Korean businesses.

In his remarks, Chief Guest Adilur Rahman Khan stated, "Strengthening economic ties with Korea is vital for Bangladesh's development. This seminar lays the groundwork for collaboration that will benefit both nations and enhance investment opportunities."

Special Guest Chowdhury Ashik Mahmud Bin Harun added "We are excited about the prospects of Korean investment in our industries, particularly in sectors like manufacturing and technology. Together, we can create a robust framework for economic growth."

FICCI President Zaved Akhtar expressed his gratitude to the Embassy of the Republic of Korea and the Korea-Bangladesh Chamber of Commerce & Industry (KBCCI) for partnering with FICCI to organize the seminar. He emphasized that this collaborative approach is crucial for driving innovation and development, which will unlock new investment opportunities.

The KBCCI President Shahab Uddin Khan thanked FICCI for its unwavering commitment to fostering international economic ties, which is helping Bangladesh attract more FDI. He highlighted that “seminars like these serve as vital platforms for driving economic cooperation. Looking ahead, the KBCCI is eager to continue partnering with FICCI to champion the interests of businesses and promote economic growth in the region.”

Keynote Speaker Samsoo Kim, Director General of the Korea Trade-Investment Promotion Agency (KOTRA), delivered a compelling presentation on "Increasing FDI in Bangladesh through Korea's Success Factors." He provided insights into effective foreign direct investment policies based on Korea’s experiences and emphasized the importance of enhancing trade and investment ties between the two nations.

Park Young-sik, Ambassador of the Republic of Korea shared crucial insights on Free Trade Agreements (FTAs) and their significance for Bangladesh. His presentation addressed the necessity of Korea-Bangladesh Economic Partnership Agreements (EPAs), the implications of Bangladesh's entry into the

Regional Comprehensive Economic Partnership (RCEP) and offered recommendations for improving Bangladesh’s FTA policies.

SUK MIN KO, Managing Director of Prime Cap (BD) Limited, contributed to the discussions with a presentation on "Enhancing Bangladesh’s Manufacturing Sector through Korean Garment Enterprises." He explored the dynamics of Bangladesh's ready-made garment (RMG) industry, covering various challenges and opportunities for foreign entrepreneurs, including workforce demands, policy implications, and the importance of efficiency and transparency.

Additionally, representatives from Samsung Electronics presented on the "National Equipment Identity Registration (NEIR) to Protect the Mobile Industry," outlining the necessity of NEIR, addressing the grey market, and discussing potential solutions.

Woo Jung-Hyun, a representative from Korea Eximbank, elaborated on the Economic Development Cooperation Fund (EDCF), highlighting its contributions to Bangladesh and its role in financing development projects.

Kim Si-Hyung, Director of the Korea Overseas Infrastructure & Urban Development Corporation (KIND), discussed the importance of public-private partnerships (PPPs) in strengthening development cooperation in Bangladesh, showcasing ongoing and prospective projects.

The seminar, attended by Members of FICCI Board of Directors, CEOs of member companies, and Diplomates, provided a vibrant platform for discussion. Participants engaged in meaningful dialogue focused on innovative strategies to strengthen economic partnerships, fostering growth and development in both Korea and Bangladesh. The Seminar was Moderated by the Executive Director of FICCI, T. I. M. Nurul Kabir.

About FICCI

Foreign Investors’ Chamber of Commerce & Industry (FICCI) the apex chamber of multinational companies has been working as the development frontier of Bangladesh by creating significant footprints in economic growth since its journey started in 1963. As a leading chamber, FICCI represents Foreign Investors from Thirty-five (35) countries across the globe in Twenty-one (21) sectors in Bangladesh. In its six decades of excellent journey, around 210 member companies of this chamber are contributing around 30% internal revenue of the government and representing more than 90% inward FDI in Bangladesh.

For further information

 T.I.M Nurul Kabir

Executive Director

Foreign Investors’ Chamber of Commerce and Industry (FICCI)

Email: info@ficci.org.bd, Website: www.ficci.org.bd

Subarna Mostafa

Specialist, Communication, PR & Stakeholder Management

Foreign Investors’ Chamber of Commerce and Industry (FICCI)

Email: subarna.mostafa@ficci.org.bd