Bangladesh keen to boost RMG raw material imports from South Korea

Bangladesh's ready-made garment entrepreneurs have expressed strong interest in expanding trade relations with South Korea through increased imports of raw materials and greater apparel exports, officials said during a high-level meeting in Dhaka today (14 July).

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Mahmud Hasan Khan Babu highlighted the growing potential for South Korean exports of man-made fibers, textile machinery, chemical dyes and other raw materials to Bangladesh.

He made the remarks during discussions with South Korean Ambassador Park Young-sik at the BGMEA Complex in Uttara, according to a BGMEA press release.

"South Korea represents a promising market for Bangladeshi apparel exports, offering significant opportunities for mutually beneficial trade," Babu said.

Both sides expressed optimism that a future Free Trade Agreement or Economic Partnership Agreement could significantly enhance bilateral trade, which currently stands below $2 billion annually.

Official data of the Export Promotion Bureau (EPB) and Bangladesh Bank (BB) shows Bangladesh exported $492 million worth of goods to South Korea in FY2025 while importing $902 million from the East Asian nation in FY2023.

Ambassador Park emphasised the need for policy alignment between Bangladesh's Export Processing Zones Act 2019 and Labour Act 2006 to improve the investment climate.

He also stressed the importance of enhancing labour productivity and operational efficiency at the Chattogram Port to facilitate smoother trade operations.

The BGMEA leadership called for improved market intelligence sharing and stronger business-to-business connections between enterprises of both countries.

The meeting was attended by BGMEA Vice President Md Shehab Udduza Chowdhury and other industry leaders, along with South Korean trade officials.