Korea, Bangladesh kick off talks for comprehensive economic partnership
Employees of the Ministry of Trade, Industry and Energy enter its building at Government Complex Sejong, March 2022. Yonhap
Korea and Bangladesh launched their official negotiations Monday for a comprehensive economic partnership agreement (CEPA), Seoul's industry minister said, as the country seeks to expand its foothold in the Southwest Asian market amid global trade uncertainties.
The first round of negotiations was held in Seoul and will run through Wednesday, according to the Ministry of Trade, Industry and Energy.
Bangladesh is the eighth-largest country in the world in terms of population and one of the fastest growing economies in Southwest Asia, the ministry noted, adding the country has posted an average of 6.6 percent economic growth over the past three years.
"Signing a CEPA with Bangladesh will serve as a bridgehead for Korean companies to enter the Southwest Asian market, which holds a great potential," said Kwon Hye-jin, director general for FTA negotiations at the ministry.