A high-powered South Korean delegation is expected to visit Dhaka soon to finalise an investment deal for further development of Chattogram port, official said.
"We hope the South Korean team will visit Dhaka shortly to ink an investment deal for the development of Chattogram port," a shipping ministry official told the FE on Friday.
Earlier in April, Dhaka and Seoul signed a memorandum of understanding here for the growth of the country's ports, shipping and maritime sector.
The official said South Korea investors have expressed willingness to construct a bay terminal and a LNG (liquefied natural gas) terminal at Chattogram port.
The Republic of Korea has been a vital development partner of Bangladesh.
It is providing technical and other support for the development of Payra port.
The Seoul-based company Daewoo is working for the port.
Korea's keenness to invest in the shipping sector came following state minister for shipping Khaled Mahmud Chowdhury's Seoul visit Korea last week.
An official, who accompanied the junior minister, told the FE that Korean entrepreneurs would visit Chattogram port for carrying out a feasibility study there.
He said an agreement for investment would be signed after visiting the country's premier seaport.
The official observed that Dhaka and Seoul could further enhance their cooperation in blue economy, ocean safety and tidal energy.
Besides, South Korea could share experiences on maritime training, development and shipbuilding.
"We'll also request them for investment in the fishing sector," the official mentioned.
The Dhaka-Seoul bilateral trade needs to be increased beyond textile and garment sectors, said a director of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).
South Korean premier Lee Nak-yon at Bangladesh-Korea Business Forum in July here also expressed his interest to invest in sectors like infrastructure, power, construction, shipbuilding and energy to boost business.
The FBCCI and Korea International Trade Association (KITA) co-hosted the event.
Some big Korean companies have investments mainly in textiles, leather and banking sectors in Bangladesh.
To date, the size of the total investment by Korean companies here is $1.12 billion, according to the country's business circles.
The Dhaka-Seoul trade stood at $1.5 billion in fiscal year 2018-19 with exports from Bangladesh worth $0.25 billion and imports worth $1.27 billion.
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