Dhaka and Seoul poised for deeper ties in a mutually beneficial partnership

Discussions at the event encompassed diversifying Bangladesh’s exports, the Economic Partnership Agreement between the two countries, collaboration in the education sector, climate change, foreign direct investment, and adding value to existing trade.

Park Young-sik, the South Korean Ambassador to Bangladesh, emphasized the possibility of further deepening bilateral relations between Bangladesh and South Korea in a mutually beneficial manner.

Ambassador Park, speaking at the Cosmos Dialogue’s Ambassadors’ Lecture Series titled “Bangladesh-South Korea Relations: Prognosis for the Future,” emphasized the importance of expanding high-level contacts to build on the achievements of the previous five decades and propel both countries toward increased prosperity over the next 50 years.

At the event hosted by the Cosmos Foundation, Dr Iftekhar Ahmed Chowdhury, President of Cosmos Foundation and former Foreign Affairs Advisor of Bangladesh Caretaker Government, chaired and conducted the session. The dialogue featured a distinguished panel of discussants, including former Ambassador Farooq Sobhan, Ambassador (Retd) Tariq A Karim, Rubana Huq (Chairman of Mohammadi Group), Lailufar Yasmin (Professor, Department of International Relations, Dhaka University), and Parvez Karim Abbasi (Assistant Professor, Department of Economics, East West University).

Since the establishment of diplomatic ties in 1973, Bangladesh and South Korea have strengthened cooperation across various fields, including politics, economy, culture, development, and human exchange. The two-way trade recently surpassed 3 billion dollars, with South Korea ranking as the fifth-largest investor in Bangladesh based on accumulated amounts.

Ambassador Park identified key sectors for potential bilateral cooperation, including footwear and leather, ICT, pharmaceuticals, shipbuilding, shipbreaking, Blue Economy, deep-sea fishing, agriculture, agricultural machinery, greenhouse technology, and carbon trading schemes. He highlighted the recent meeting between Prime Minister Sheikh Hasina and South Korean President Yoon Suk-yeol in New Delhi on September 9, where both leaders expressed their commitment to further deepen cooperation in trade, commerce, culture, and people-to-people contacts.

Discussions at the event encompassed diversifying Bangladesh’s exports, the Economic Partnership Agreement between the two countries, collaboration in the education sector, climate change, foreign direct investment, and adding value to existing trade. The South Korean Ambassador’s emphasis on these areas reflects a comprehensive approach to enhancing bilateral ties and exploring new avenues for collaboration.

With South Korea’s investment ranking prominently and bilateral trade flourishing, the dialogue underscored the shared commitment to advancing the partnership for mutual benefit. The active participation of former and current diplomats, foreign affairs experts, and economists highlighted the importance attached to fostering a dynamic and resilient relationship between Bangladesh and South Korea.