Dhaka, Seoul eye stronger investment, trade ties

Updated: Jun 28, 2020

On July 14, 2019, four big events between Bangladesh and Korea were held at Intercontinental Dhaka. This was a real shot in the arm for Korea - Bangladesh trade. For the KOTRA team, the enthusiastic response of buyers was the kind of reward for many hours of hard work that went into the preparations for the events.

Korea Bangladesh Business Partnership

17 Korean companies took part in this event. KOTRA set up 150 meetings with 106 local buyers. A number of specific sales leads linked directly to the event, Korean companies reported having collected solid leads and new contacts as a result of taking part.

Some of the Korean companies such as Bo Kwang has a good deal of interest in the market and met government authorities such as Bangladesh Police for the supply of specialized textile products such as anti gravity suit.

Infrastructure Business Partnership

At Intercontinental, KOTRA arranged one on one meetings between 13 Korean engineering and construction companies and 07 government authorities. This was the first time KOTRA, Dhaka organized the event under a new format as local authorities such as Bangladesh Railway, Civil Aviation Authority, Dhaka WASA, Chattogram WASA, DMTCL, Roads & Highways, Power Development Board have their own booths and Korean companies meet according to a pre-scheduled meeting program.

Feedback from local authorities suggested a growing interest in infrastructure projects, consultancy and construction (EPC) in particular. The event took place in the backdrop of Shahjalal International Airport 3rd Passenger Terminal, which has been awarded to Samsung C&T, worth US$1.7 billion.

Korea Bangladesh Business Forum

This was a packed program of impressive and informative presentations highlighting opportunities in the Bangladesh market for trade, investment and economic cooperation. One of the keynote speaker was Mr. Jahangir Saadat, President, KEPZ (owned by Youngone). Korea’s contribution for the development of Ready made Garment (RMG) sector in Bangladesh is immense with Youngone being the largest private investor in Bangladesh. Also highlights of the forum included excellent presentations from Mr. Lee Sun Joo, SVP, KT Corporation followed by company specific presentations from Hyundai E&C and Bangladesh Computer Council (BCC) on the cooperation in ICT sector between the two countries. The event was well attended by business leaders of Bangladesh and top officials from the ministries.

The energy, commitment and enthusiasm which the Korean companies and their local counterparts put into producing high quality professional presentations showed that Korean businesses in Bangladesh is a force to be reckoned with – appoint not lost on the VIPs, Hon’ble commerce minister, industries minister and out Chief Guest His Excellency Mr. Lee Nak-yon, Hon’ble Prime Minister of the Republic of Korea.

MOU Signing Ceremony

At the Prime Minister’s Office (PMO), and in the presence of Prime Minsters of both the countries, Bangladesh Investment Development Authority (BIDA) signed MOU with KOTRA. The CEOs of the respective organizations signed the MOU on this special occasion.

The MOU signed between Bangladesh Association of Construction Industries (BACI) and KOTRA, provides for them to enter into an agreement, pursuant to which KOTRA would be able to collect enquiries from BACI members, invite them to visit Korea and receive inward delegation on construction industry/sector from Korea.

At the Intercontinental hotel, and in the presence of CEO, KOTRA, a number of MOUs were signed between local leading buyers and Korean companies contracts worth over US$

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