South Korea has expressed strong interest in investing in Bangladesh’s growing shipbuilding and heavy industry sectors while reaffirming its commitment to expanding strategic cooperation with the Chattogram Port Authority (CPA) to strengthen bilateral trade and economic ties.
The commitment came during a high-level meeting between Bangladesh’s Chattogram Port Authority and South Korean Ambassador to Bangladesh on Wednesday (July 8), when the ambassador paid a courtesy call on CPA Chairman Rear Admiral S.M. Moniruzzaman.
According to a press release issued by CPA Secretary Syed Refayet Hamim, the discussions focused on port modernization, customs digitalization, trade facilitation, foreign direct investment (FDI), and opportunities for South Korean investment in key industrial sectors.
During the meeting, both sides reaffirmed their commitment to further expanding Bangladesh-South Korea economic cooperation through closer collaboration in maritime trade, logistics, and industrial development.
The South Korean Ambassador praised Bangladesh’s impressive economic progress, saying the country has the potential to emerge as one of South Asia’s leading economic powers. He underscored Seoul’s keen interest in strengthening trade and investment partnerships with Bangladesh, particularly in sectors that support long-term industrial growth.
The ambassador also expressed South Korea’s interest in investing in Bangladesh’s expanding shipbuilding and heavy industries, noting that such investments could facilitate advanced technology transfer, enhance industrial capacity, and generate significant employment opportunities.
Highlighting the importance of modern trade infrastructure, CPA Chairman Rear Admiral Moniruzzaman said automation and digitalization of port and customs operations have become essential for improving efficiency and reducing the cost and complexity of doing business. These reforms, he said, would help create a more investment-friendly environment and attract greater foreign direct investment.
The CPA chairman also outlined a number of strategic initiatives aimed at transforming Bangladesh into a regional logistics and maritime hub. These include establishing specialized free trade zones to attract globally competitive industries, improving multimodal connectivity through rail, road and inland waterways, expanding fruit exports, unlocking the country’s deep-sea fishing potential, and modernizing customs and tax systems to facilitate international trade.
The meeting also explored the possibility of developing Bangladesh’s coastal belt—from Mirsarai through Sandwip to Cox’s Bazar—into a maritime economic corridor inspired by the successful port-industrial clusters of Busan in South Korea and Kobe and Osaka in Japan, leveraging the country’s strategic geographic location along the Bay of Bengal.
Following the meeting, the South Korean delegation toured various facilities and operational areas of Chittagong Port. The delegation highly appreciated the port’s management, infrastructure development, and ongoing modernization initiatives, expressing optimism about deepening cooperation and maintaining regular engagement in the years ahead.
