Vice Minister Heo Jang meets Bangladeshi Finance Minister Chowdhury

Cooperation proposed in infrastructure, defense, advanced industries; customs and visa improvements sought

Vice Minister of Economy and Finance Heo Jang meets with Bangladeshi Finance Minister Amir Khosru Mahmud Chowdhury at the Export-Import Bank of Korea in Yeongdeungpo-gu, Seoul, on Tuesday. [Ministry of Economy and Finance]
Vice Minister of Economy and Finance Heo Jang meets with Bangladeshi Finance Minister Amir Khosru Mahmud Chowdhury at the Export-Import Bank of Korea in Yeongdeungpo-gu, Seoul, on Tuesday. [Ministry of Economy and Finance]

South Korea and Bangladesh have agreed to expand economic cooperation on the back of their Comprehensive Economic Partnership Agreement (CEPA), amid a 52.7 percent surge in bilateral trade in the first half of this year. The two countries plan to identify joint projects in AI, digital technology and supply chains where South Korean companies can participate.

According to the Ministry of Economy and Finance, Vice Minister Heo Jang met Bangladeshi Finance Minister Amir Khosru Mahmud Chowdhury at the Export-Import Bank of Korea's headquarters in Seoul on Tuesday to discuss ways to deepen bilateral economic cooperation. Chowdhury is visiting South Korea as a special envoy of the prime minister of Bangladesh's new government, which took office in February.

Both sides agreed that there is strong potential for cooperation between South Korea, with its experience in advanced technology and industrial development, and Bangladesh, which holds significant growth potential as a large consumer market and a gateway to South and Southeast Asia. They committed to substantially expanding economic cooperation on the back of the South Korea-Bangladesh CEPA, which was agreed in principle last August.

Bilateral trade stood at $2.28 billion in 2023, dipped to $1.98 billion in 2024, then rebounded to $2.37 billion last year. In the first half of this year, trade reached $1.72 billion, up 52.7 percent from the same period a year earlier. Heo said he valued Bangladesh's market potential as a nation of about 170 million people, as well as the rapid growth in bilateral trade.

Heo said the South Korea-Bangladesh CEPA "will serve as an important catalyst for a new leap forward in bilateral economic cooperation," and urged prompt follow-up measures to bring the agreement into force without delay. He also proposed that the two sides "diversify the range of traded goods and broaden the scope of cooperation into infrastructure, defense and advanced industries."

Heo also called for improvements to the business environment for South Korean companies operating in Bangladesh, asking authorities to create a more business-friendly climate by streamlining customs procedures, visa renewal processes and related regulations so Korean firms can operate smoothly and with stability.

Chowdhury responded that "South Korea is Bangladesh's top-priority cooperation partner for economic development and industrial advancement," and expressed hope that the two countries would build a mutually beneficial relationship through cooperation across trade, investment, finance and industry.

"We will actively support Korean companies — including by resolving difficulties they face — so that more of them can operate in Bangladesh and investment can flourish," Chowdhury said.

Heo expressed gratitude to Chowdhury for 17 years of service as South Korea's honorary consul in the Chattogram (Chittagong) region from 1990 to 2007, and for contributions to the development of bilateral relations, asking Chowdhury to continue serving as a bridge for expanding economic cooperation.

The two sides agreed to actively identify cooperation projects in AI and digital technology, supply chains and green industries, drawing on tools such as the Economic Development Cooperation Fund (EDCF) and the Economic Innovation Partnership Program. They said they would pursue mutually beneficial projects that address Bangladesh's development needs while creating opportunities for South Korean companies to participate.


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