Tuesday | 10 December 2024 | Reg No- 06
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Tuesday | 10 December 2024 | Epaper
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Invest more in Bangladesh, recruit more workers 

CA urges South Korea

Published : Tuesday, 5 November, 2024 at 12:00 AM  Count : 382
Special Correspondent
Professor Muhammad Yunus on Monday called on South Korea to increase its investment in Bangladesh and to recruit more Bangladeshi workers, particularly in the shipbuilding industry, to foster mutual benefits. This request was made during a meeting with Park Young-sik, the South Korean Ambassador to Bangladesh, who visited Professor Yunus at his office in Tejgaon, Dhaka, according to the Chief Adviser's press wing.

"We look forward to expanding and strengthening our partnership with South Korea, advancing our current relationship to new heights," Professor Yunus said to the ambassador.

Ambassador Park raised concerns over North Korea's recent actions, including its troop deployment in the Russia-Ukraine conflict and recent ballistic missile tests, which have heightened tensions in the Korean peninsula. In response, the chief adviser expressed hope for peace and stability in the region.

The ambassador also highlighted a positive shift in Bangladesh's business climate, which has piqued the interest of many South Korean companies eager to invest further in the country. He noted South Korea's specific interest in hiring Bangladeshi workers for its shipbuilding sector, adding that several South Korean companies already operate in Bangladesh's specialised economic zones within the ready-made garment (RMG) sector.

Additionally, Ambassador Park outlined the significance of Bangladesh as South Korea's top recipient of the Economic Development Cooperation Fund (EDCF), with an official development assistance (ODA) loan of $3 billion spanning 34 projects. He mentioned that 14 new projects are currently in progress or undergoing feasibility studies, which could further raise Korean investment in Bangladesh to $7 billion.

"We aim to continue our collaboration without any interruptions to existing projects," he affirmed. He further noted that, just 50 years ago, South Korea was also an ODA recipient country and could therefore empathise with Bangladesh's challenges and offer valuable development insights.

The ambassador stressed the importance of negotiating an Economic Partnership Agreement (EPA) between Bangladesh and South Korea to solidify their economic cooperation.

The Chief Adviser extended his gratitude for Korea's ongoing support across multiple sectors in Bangladesh. Principal Coordinator for Sustainable Development Goals (SDGs) Affairs, Lamiya Morshed, and Economic Relations Division Secretary, Md. Shahriar Kader Siddiky, were also present at the meeting.



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