Bangladesh will sign a new framework agreement with South Korea to boost the two-way trade, a source in the Korea International Cooperation Agency (KOICA) said here Tuesday.
Under the agreement, said the source, efforts would be made to promote poverty reduction and the sustainable economic and social development of Bangladesh by strengthening the Dhaka-Seoul existing relations in various fields.
“The agreement will be signed here this afternoon. Korean government would further consolidate its grant aid programmes in Bangladesh through the KOICA under the framework agreement,” the source told BSS.
Secretary of the Economic Relations Division (ERD) of Ministry of Finance Mohammad Mejbahuddin and Ambassador of the Republic of Korea Lee Yun-young will ink the Agreement on behalf of their respective sides at the ERD.
KOICA Resident Representative Bok Hee Kim, ERD Additional Secretary Asif uz Zaman, Joint Secretary Md. Jahangir Alam, and other high level Government and KOICA officials and dignitaries are expected to attend the function.
It would also help KOICA to increase the volume of its aid to Bangladesh according to the Korean Government’s pledge to increase its ODA to 0.25% of its GNI by the year 2015.
The framework agreement will facilitate the KOICA’s development cooperation programmes such as invitational training for government officials and professionals in Korea, dispatching experts for consultation and in-country training programmes,dispatching volunteers to support government offices in various fields, dispatching medical doctors and professional medical personnel and supporting NGOs activities.
Besides, providing Bangladesh with equipment, machinery and materials in connection with the projects and programmes, constructing facilities, coordinating with the authorities concerned to implement the projects and programmes and providing with other forms of grant aid as may be mutually agreed upon.
KOICA is presently supporting Bangladesh in Health,Education, and Governance sectors according to the Country Partnership Strategy for Bangladesh (2012-2015).
