South Korean envoy hopes for early CEPA conclusion before Bangladesh’s LDC graduation

South Korean Ambassador to Dhaka Park Young-sik today (9 November) expressed hope that Bangladesh and South Korea can finalise the Comprehensive Economic Partnership Agreement (CEPA) soon, ideally before Bangladesh graduates from Least Developed Country (LDC) status.

"The CEPA will substantially boost bilateral trade and investment. I sincerely hope that both nations can conclude the CEPA soon, possibly before Bangladesh's graduation from LDC status," he said at a seminar titled "Geopolitical Challenges and Korea–Bangladesh Comprehensive Partnership in the Era of US Tariffs" at a city hotel.

A seminar titled “Geopolitical Challenges and Korea–Bangladesh Comprehensive Partnership in the Era of US Tariffs” was held at a city hotel on Sunday, 9 November 2025. Photo: TBS

Highlighting the long-standing ties between the two countries, the envoy noted, "Collaboration in the RMG sector has been a driving force in developing bilateral relations over the last fifty years. A bilateral CEPA could be the next engine to elevate our partnership over the next fifty years."

The seminar was organised by the Embassy of the Republic of Korea in collaboration with the Bangladesh Enterprise Institute (BEI). Park Young-sik also recalled that the Korean Trade Minister and Bangladesh's Commerce Adviser met in Seoul on 28 November 2024 to officially launch CEPA negotiations.

The envoy urged Bangladesh to continue economic reforms, saying, "The government should continue economic reforms to make the economy more resilient and sustainable, while Bangladeshi firms need to prepare for overseas competition."

On the topic of LDC graduation, he questioned whether deferral is the solution. "Will African countries agree to defer Bangladesh's graduation at next year's UNGA, while Lao PDR and Nepal proceed as scheduled?" he asked. He also pointed out that Bangladesh remains the largest LDC in terms of total GDP, ranking 35th globally.

Ambassador M Humayun Kabir, president of BEI, highlighted the potential for deeper economic cooperation. 

"Bangladesh and South Korea could expand collaboration both qualitatively and quantitatively, focusing on capacity building, knowledge and technology transfer, digital economic connectivity, energy security, and promoting foreign investment. Signing PTAs, FTAs, or CEPA as soon as possible will further strengthen bilateral relations," he said.

"Both Bangladesh and South Korea operate in challenging and highly contested regions. Sharing experiences through a Force and Security Dialogue could be beneficial," he added.

Former diplomat Farooq Sobhan, economist Selim Raihan, and Mustafizur Rahman also spoke at the seminar