By Diplomacy Journal Kayla Lee

Vice Minister of Foreign Affairs Park Yoon-joo held the 4th Korea-Bangladesh Policy Consultation with Md. Nazrul Islam, Secretary (Bilateral – East & West) of the Ministry of Foreign Affairs of Bangladesh, at the Ministry of Foreign Affairs in Seoul on August 26.

The two sides discussed a range of issues such as high-level exchanges, economic cooperation, employment cooperation, development cooperation, the situation on the Korean Peninsula and in the region, and cooperation on the international stage.

The 4th Korea-Bangladesh Policy Consultation was held three years after the 3rd consultation in March 2022.

Vice Minister Park appreciated the close high-level exchanges between the two countries, including his meeting with the Bangladeshi Adviser for Foreign Affairs in July immediately after the new government took office in Korea and Secretary Islam’s visit to Korea in August.

He noted that more than 200 Korean companies in Bangladesh are contributing to the country’s economic development and job creation, and requested the Bangladeshi government's support for the Korean companies operating in Bangladesh.

Secretary Islam took note of the first round of negotiations on the Korea-Bangladesh Comprehensive Economic Partnership Agreement (CEPA) (August 25-27) and expressed his expectation that the agreement would serve as a catalyst for deepening economic cooperation between the two countries. He also expressed his hope that cooperation in areas such as shipbuilding, semiconductors, and medical care could be explored in the future.

Vice Minister Park said that Bangladesh is a priority country for Korea's development cooperation, and that Korea looks forward to continuing to cooperate with Bangladesh for its economic and social development.

Secretary Islam expressed his gratitude for Korea's contributions to date ahead of Bangladesh's graduation from the Least Developed Country status scheduled for next year, and said that he hopes for close cooperation between the two countries and continued support from Korea in areas such as development cooperation, employment cooperation, capacity building, and education.

The two sides exchanged views on major regional issues including the Korean Peninsula, Rohingya refugees, and Myanmar, and agreed to cooperate on climate change response and other issues, as well as to closely coordinate on elections in international organizations.

Bangladesh is Korea’s core partner in South Asia, and this policy consultation served as an important opportunity to deepen practical cooperation between the two countries and expand Korea’s diplomatic horizons.