S. Korea, Bangladesh reach agreement in principle on CEPA

South Korea and Bangladesh have reached an agreement in principle on a comprehensive economic partnership agreement (CEPA), according to the South Korean Ministry of Trade, Industry and Energy. The agreement, which was finalized during talks between Trade Minister Yeo Han-koo and his Bangladeshi counterpart, Khandaker Abdul Muktadir, in Dhaka, represents a significant step in expanding South Korea's presence in the South Asian market.

The CEPA is a type of free trade agreement that aims to promote broader economic cooperation beyond market liberalization, including investment and other areas of economic collaboration. While the agreement eliminates tariffs on key products such as instant noodles, processed coffee, seasoned seaweed, and confectionery products from South Korea, and on diesel fuel, complete knock-down kits for vehicles, and all automotive parts from Bangladesh, the two sides will continue to finalize remaining technical issues through working-level consultations.

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