Dhaka: South Korea and Bangladesh are set to hold their second round of negotiations for a comprehensive economic partnership agreement (CEPA) this week, as Seoul aims to strengthen its presence in the Southwest Asian market amid global trade uncertainties. The discussions will span four days, concluding on Thursday, according to Seoul's industry ministry.
According to Yonhap News Agency, trade delegations from both countries will convene in Dhaka for these negotiations. The two nations officially announced the start of these talks in November 2024, with the first round occurring in Seoul in August of the previous year. Bangladesh, recognized as the eighth most populous country globally, is noted for its rapid economic growth within Southwest Asia.
Son Ho-young, a ministry official responsible for trade agreement negotiations, emphasized the significance of a CEPA with Bangladesh, noting that it would facilitate Korean companies' access to the Southwest Asian market. Bangladesh is seen as a key market with significant growth potential in the region. A CEPA typically involves a wider range of economic cooperation and exchanges beyond traditional market access.