BGMEA president Faruque Hassan believes Bangladesh and South Korea have great potential to derive more mutual trade benefits through collaboration, especially within the apparel and textile industry.

He said: “There are huge opportunities for Bangladesh and South Korea to further engage in investment and develop mutually beneficial economic ties”

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BGMEA said discussions took place about possible areas of expanding trade between Bangladesh and South Korea and how both countries can collaborate in a meaningful way to pave the way for boosting bilateral trade.

During the meeting, Hassan requested Ambassador Lee Jang-Keun to encourage Korean businessmen to invest in the backward linkage industry of Bangladesh, especially the non-cotton textile sector.

The ambassador and his team suggested extending the incentive facility to ready-made garment factories inside the export processing zone (EPZ) against their exports to new markets.

Last week (10 January), the BGMEA announced a partnership with the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) to develop a unified code of conduct for the country’s readymade garment (RMG) industry.

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