UNB, Dhaka :Centre for Policy Dialogue (CPD), a civil society think tank, on Tuesday said Bangladesh and South Korea may consider signing a comprehensive economic partnership agreement (CEPA) given the potentials for enhancing economic cooperation on all fronts.”The proposed CEPA will highlight on Free Trade Agreement (FTA), investment and services,” said CPD additional research director Dr Khondaker Golam Moazzem at a dialogue in the city.
CPD and Korean Embassy in Dhaka jointly arranged the dialogue, titled ‘Korean Development Experience: Lessons for Bangladesh’, at Westin Hotel in the city with CPD Executive Director Prof Mustafizur Rahman in the chair.
Commerce Minister Tofail Ahmed spoke at the event as the chief guest. Korean Ambassador in Dhaka Lee Yun-young, FBCCI President Kazi Akram Uddin Ahmed, Chairman and CEO of Youngone Corporation Kihak Sung and Associate Prof of the School of Law, Seoul National University Dr Jaemin Lee also spoke at the inaugural session of the dialogue.
Apart from Golam Moazzem Prof, Division of International Studies, Korea University Dr Moonsung Kang presented a paper on ‘Korea’s Foreign Economic Policy in the Era of East Asian Integration’ at the dialogue.
Although Korea provides duty-free market access to major products of Bangladesh under its GSP scheme for LDCs, Bangladesh has yet to utilise the facility due to high RoO (Rules of Origin).
“Korea may consider reducing the level of local content requirement or RoO,” Golam Moazzem said.
A local content requirement is a requirement that a producer ensure that a certain percentage of inputs in the production process come from local sources.
Later, Tofail Ahmed supported the proposal and said Korea needs to reduce or relax the RoO for boosting Bangladesh’s export to Korea.
On FTA, the CPD analyst said Bangladesh could attract more Korean investment and trade in the value chains operate between Korea, China, India and Asean countries.
“Korean investment in Bangladesh will accelerate if a regional value chain operates between the countries of East Asia and South Asia,” Golam Moazzem said.
Speaking as the chief guest, Tofail Ahmed said Bangladesh has many things to learn from Korea as it achieved development tremendously over the past decades.
He said, Bangladesh wants increased foreign direct investment and informed that the government is considering FTA signing with a number of countries, including Malaysia and Sri Lanka.
CPD and Korean Embassy in Dhaka jointly arranged the dialogue, titled ‘Korean Development Experience: Lessons for Bangladesh’, at Westin Hotel in the city with CPD Executive Director Prof Mustafizur Rahman in the chair.
Commerce Minister Tofail Ahmed spoke at the event as the chief guest. Korean Ambassador in Dhaka Lee Yun-young, FBCCI President Kazi Akram Uddin Ahmed, Chairman and CEO of Youngone Corporation Kihak Sung and Associate Prof of the School of Law, Seoul National University Dr Jaemin Lee also spoke at the inaugural session of the dialogue.
Apart from Golam Moazzem Prof, Division of International Studies, Korea University Dr Moonsung Kang presented a paper on ‘Korea’s Foreign Economic Policy in the Era of East Asian Integration’ at the dialogue.
Although Korea provides duty-free market access to major products of Bangladesh under its GSP scheme for LDCs, Bangladesh has yet to utilise the facility due to high RoO (Rules of Origin).
“Korea may consider reducing the level of local content requirement or RoO,” Golam Moazzem said.
A local content requirement is a requirement that a producer ensure that a certain percentage of inputs in the production process come from local sources.
Later, Tofail Ahmed supported the proposal and said Korea needs to reduce or relax the RoO for boosting Bangladesh’s export to Korea.
On FTA, the CPD analyst said Bangladesh could attract more Korean investment and trade in the value chains operate between Korea, China, India and Asean countries.
“Korean investment in Bangladesh will accelerate if a regional value chain operates between the countries of East Asia and South Asia,” Golam Moazzem said.
Speaking as the chief guest, Tofail Ahmed said Bangladesh has many things to learn from Korea as it achieved development tremendously over the past decades.
He said, Bangladesh wants increased foreign direct investment and informed that the government is considering FTA signing with a number of countries, including Malaysia and Sri Lanka.
