Dhaka, Seoul agree to deepen ties, explore strategic partnership

During the fourth round of Foreign Office Consultations (FOC) in Seoul today, South Korea and Bangladesh decided to increase economic cooperation, strengthen political trust, and consider the possibility of transforming their relationship into a strategic partnership.

According to a press release from the foreign ministry here, first Vice Minister of Foreign Affairs Park Yoonjoo led the Korean team, while Dr. Md. Nazrul Islam, Secretary (Bilateral-East and West) Ambassador, led the Bangladesh group.

During the consultation, both sides discussed issues included political and economic cooperation, trade and investment, human resource development under the Employment Permit System (EPS), infrastructure development, relocation of Korean electronics and semiconductor plants, energy cooperation and the situation of forcibly displaced Myanmar’s nationals Rohingyas.

Dhaka and Seoul also exchanged views on regional and global issues of mutual concern and agreed on the importance of enhanced cooperation on multilateral platforms.

The meeting reviewed progress since the last FOC in March 2022 and identified new avenues of collaboration, particularly in science and technology, artificial intelligence, energy transition, fisheries, biotechnology, climate change and shipbuilding.

Bangladesh emphasized the value of Korean assistance for its top-notch infrastructure projects through grants and loans from the EDCF, KOICA, and EDPF.
To improve industrial value chains and support sustainable growth in South Asia, Dhaka also urged Korean companies to move their production facilities and manufacturing plants to Bangladesh.

In response, the Korean side reaffirmed its support for the safe, dignified, voluntary, and sustainable return of over a million Rohingyas to Myanmar and praised Bangladesh’s humanitarian role in housing them.

Both delegations emphasized the need for high-level visits at a mutually convenient time to further strengthen bilateral relations and elevate them to a strategic partnership.

The consultations concluded with a shared vision to maximize resources and complementarities for the mutual development of both peoples.