Trade Minister Yeo Han-koo, back row at right, talks with his Bangladeshi counterpart, Khandaker Abdul Muktadir, at Bangladesh’s Ministry of Commerce in Dhaka, Tuesday. Courtesy of the Ministry of Trade, Industry and Energy
Korea and Bangladesh on Tuesday reached an agreement in principle on a comprehensive economic partnership agreement (CEPA), Seoul's industry ministry said Tuesday, as Seoul seeks to expand its presence in the South Asian market.
The agreement was reached during talks between Trade Minister Yeo Han-koo and his Bangladeshi counterpart, Khandaker Abdul Muktadir, in Dhaka, Bangladesh, according to the Ministry of Trade, Industry and Energy.
The agreement in principle means the two sides have concluded negotiations on the main provisions of the pact, while remaining technical issues will be finalized through working-level consultations.
A CEPA is a type of free trade agreement that promotes broader economic cooperation beyond market liberalization, including investment and other areas of economic collaboration.
