Korea, Bangladesh to hold 2nd round of negotiations for free trade deal
Korea and Bangladesh are set to hold their second round of negotiations for a comprehensive economic partnership agreement (CEPA) this week, Seoul's industry ministry said Monday, as Seoul seeks to expand its foothold in the Southwest Asian market amid global trade uncertainties.
Trade delegations from the two sides will hold talks for four days through Thursday in Dhaka, according to the Ministry of Trade, Industry and Resources.
The two countries officially announced the launch of negotiations in November 2024 and held their first round of talks in Seoul in August last year.
Bangladesh is the eighth-largest country in the world in terms of population and one of the fastest growing economies in Southwest Asia, according to the ministry.
"Signing a CEPA with Bangladesh will greatly help Korean companies enter the Southwest Asian market, as Bangladesh is a key market in Southwest Asia with growth potential," said Son Ho-young, a ministry official in charge of trade agreement negotiations.
A CEPA is a type of free trade agreement that emphasizes a broader scope of economic cooperation and exchanges in addition to market opening.
