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South Korea To Import More Bangladesh-Made Garments

Bangladesh got a needed boost in anticipated revenue and a morale-building vote of confidence by way of South Korea.

The Korea Importers Association (KOIMA) of South Korea said it will urge its 8,000 members to import more ready-made garments from Bangladesh.

Meeting in South Korea with a delegation from the Dhaka Chamber of Commerce and Industry (DCCI), KOIMA vice chairman Hi-Hyun Kim said he would make the official request to the membership.

A meeting was also held between the DCCI group — officially designated the Trade and Investment Promotion Delegation — and representatives of the Korea Trade-Investment Promotion Agency (KOTRA) at which both parties agreed to additional bilateral trade.

Korean business people and entrepreneurs who attended the meeting also discussed potential investment in Bangladesh.

Additionally, KOTRA officials promised to help build DCCI capacity and associated skills.

DCCI president Sabur Khan emphasized the importance of maintaining frequent two-way communication between the principals to facilitate the expected increase in bilateral trade and investment.

Korean investors have positive views about investing in Bangladesh, according to the Director for Asia of the Korea Chamber of Commerce Chol Min, because various Korean enterprises have already been successful doing business there.

The DCCI delegation also attended what was characterized as a business round table meeting during which Bangladeshi-South Korean trade and investment, among other topics, was discussed.

More than 50 potential investors attended the meeting, and Mr. Khan invited them to visit Bangladesh to experience first hand its business-friendly environment and to see the nation’s production potential.

A visit to Japan with similar objectives was also scheduled for the DCCI delegation.