CCCI holds meeting with Korean envoy

CHATTOGRAM, May 17: The Chittagong Chamber of Commerce and Industry (CCCI) held a view exchange meeting with the Ambassador of the Republic of Korea at the World Trade Centre (WTC) in the port city Chattogram on Thursday.

Addressing the meeting, Park Young-Sik said that there was a huge opportunity to increase the cooperation and friendship between Bangladesh and Korea.

He said, "Bangladesh is Korea's 5th largest trading partner. Korean companies have investments in the manufacturing, automobile, mobile and home electronics sectors here in Bangladesh. Besides, Korean companies are working efficiently in the big projects of Bangladesh."

He said, "Bangladesh will leave the LDC club by 2026. So, qualitative economic development is necessary to sustain the economic growth of Bangladesh. Diversification should be brought in various fields including the manufacturing sector. At present, 75 per cent of the garment industry's cotton-based garments are exported from Bangladesh to the world. However, man-made fiber clothing is appreciated worldwide now."

"Korea has many advanced and modern technologies in the economy, tourism, agro and food processing sectors in Bangladesh. At the same time, high tariffs on raw material imports, visa complications and delay in customs clearance are currently a major obstacle for Korean companies to invest in Bangladesh," he added.

He sought the government's assistance through the CCCI to address these barriers to investment.

President of CCCI Omar Hajjaj chaired the meeting. Among others, CCCI Vice President Raisa Mahbub, CCCI Directors Anjan Shekhor Das, Mahafujul Haque Shah and Akter Uddin Mahmud, Consul of Korean embasy Kim Jeong Ki and President of Korean Association Jin Hyuk Paik also attended the meeting.

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