Dhaka, Seoul have great potential to boost trade: BGMEA president

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) president Faruque Hassan said Bangladesh and South Korea have great potential to derive more mutual trade benefits through collaboration, especially in the area of apparel and textile industry, reports BSS.

“There are huge opportunities for Bangladesh and South Korea to further engage in trade and investment and develop mutually beneficial economic ties,” he remarked during a meeting with ambassador of South Korea to Bangladesh Lee Jang-keun who paid a courtesy visit at BGMEA Gulshan office in Dhaka on Saturday, said a press release.

Former president of Dhaka Chamber of Commerce and Industry (DCCI) Shams Mahmud, BGMEA vice presidents - Shahidullah Azim and Miran Ali, and first secretary of the embassy of South Korea Lee Jungyoul were also present at the meeting.

During the meeting, they discussed possible areas of expanding trade between Bangladesh and South Korea and how both countries can collaborate in a meaningful way to pave the way for boosting bilateral trade.

BGMEA president Fauque Hassan requested Ambassador Lee Jang-keun to encourage Korean businessmen to invest in the backward linkage industry of Bangladesh, especially the non-cotton textile sector.

The Korean envoy pointed to extending incentive facility to RMG factories inside the export processing zone (EPZ) against their exports to new markets.