Vice Minister of Finance meets with Bangladesh's Finance Minister... “Discovering future cooperation projects”

The Ministry of Finance and Economy reported on the 4th that Heo Jang, Second Vice Minister of Finance and Economy, met with Bangladesh Finance Minister Amir Khosru Mahmud Chowdhury and discussed ways to expand economic cooperation between the two countries.

The day before, Vice Minister Heo had a meeting with Minister Chaudhuri at the main office of the Export-Import Bank of Korea in Seoul. Minister Chowdhury visited Korea as Prime Minister Nachman's special envoy when the new government of Bangladesh was launched in February of this year.

Both sides agreed that there is high potential for cooperation between Korea, which has experience in cutting-edge technology and industrial development, and Bangladesh, which has growth potential thanks to its huge consumer market and base in Southwest Asia.

At the same time, he proposed to significantly expand economic cooperation between the two countries using the Korea-Bangladesh Comprehensive Economic Partnership Agreement (CEPA), which was concluded in principle in August, as an opportunity.

Vice Minister Heo said, “The Korea-Bangladesh CEPA will be an important opportunity for a new leap forward in economic cooperation between the two countries,” and requested that follow-up measures be carried out without a hitch for a speedy announcement.

He also proposed, "Based on this, let's diversify the trade items between the two countries and expand the horizon of cooperation to include infrastructure, defense, and high-tech industries."

We also requested that Bangladeshi companies pay attention to improving customs clearance and visa renewal procedures and regulations for Korean companies operating in Bangladesh.

Minister Chowdhury said, "Korea is the top cooperation partner for Bangladesh's economic development and industrial advancement," and added, "I hope to create a mutually beneficial partnership through economic cooperation in various fields such as trade, investment, finance, and industry."

He also emphasized, “We will actively support more Korean companies to operate in Bangladesh and make active investments.”

The two sides agreed to discover mutually beneficial cooperation projects focusing on future-oriented fields such as artificial intelligence (AI), digital, supply chain, and green through the External Economic Cooperation Fund (EDCF) and the Economic Innovation Partnership Program (EIPP).