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Panoramic view of Ministry of Trade, Industry and Resources / Asia Today DB

South Korean government enters final negotiations for Comprehensive Economic Partnership Agreement with Bangladesh, nation of 170 million people.

Ministry of Trade, Industry and Resources Trade Negotiations Division announced on 27th that it holds fifth official round of negotiations in Seoul from July 27 to 31 to establish economic partnership with Bangladesh, key market in South Asia.

Around 60 officials participate in negotiation, led by chief negotiators Park Keun-oh, Director General for Trade Negotiations, and Ayesha Akter, Additional Secretary of Foreign Trade Agreement Wing at Ministry of Commerce of Bangladesh.

Building on outcomes of previous discussions, fifth negotiation aims to resolve key remaining issues across eight working groups, including goods, services, investment, rules of origin, digital trade, intellectual property rights, economic cooperation, and general provisions, elevating talks to final stage.

Since declaring launch of negotiations in November 2024, two countries held four official negotiating rounds alongside intersessional meetings, progressing text discussions across four areas including customs procedures, rules of origin, sanitary and phytosanitary measures, and technical barriers to trade.

Meanwhile, Bangladesh actively pursues market opening through efforts to join Regional Comprehensive Economic Partnership and conclude FTAs with major nations including Japan. Signing of Korea-Bangladesh CEPA is expected to broaden export base for South Korean companies in automotive and petrochemical sectors, expanding economic cooperation into diverse fields including infrastructure, manufacturing, and digital sectors.

Park Keun-oh, Director General for Trade Negotiations, said that Bangladesh represents rapidly growing core market in South Asia, and concluding CEPA will contribute to expansion into South Asian market and supply chain diversification for South Korean companies, adding that delegation will actively engage in this negotiation to maximize resolution of remaining issues and bring talks to swift conclusion.

                                                                                                            Kim So-young