Korean Car Industry Next Destination Bangladesh

Bangladesh’s economy grows like a boom in many industries sector. Korea considers Bangladesh an important destination for trade, commerce, and investment. Korean ambassador to Bangladesh Lee Jang-Keun said Korea wants to manufacture in Bangladesh as it considers the country an important destination for trade and investment. “Korea has been planning to manufacture cars in Bangladesh as part of its’ expansion of trade and commerce worldwide,” he said at the meeting with Bangladesh commerce Minister Tipu Munshi at the Secretariat in the capital.

The Bangladesh commerce minister said there should be a trade agreement between Bangladesh and Korea which would foster the trade and investment further.

“Bangladesh wants to increase exports to Korea as the country is already exporting ready made garments there,” Tipu Munshi said. He suggested exploring the feasibility of a free trade agreement between the two countries.

Korean ambassador said the development of Bangladesh is visible now and the bilateral trade between Bangladesh and Korea is at its peak. Several Korean companies are involved in RMGG, electronic products, and some other sectors in Bangladesh.

“He also said Korea considers Bangladesh an important destination for trade, commerce, and investment,” In the year 2020-2021 Bangladesh exported goods worth $398.66 million to Korea while importing goods worth $1126.60 million.

Bangladesh’s economy and industrial growth mean the country’s people’s economy increase. As a people income increase mean his needs increase. The Korean car industry has come a long way in understanding this. People no longer think of cars as a luxury but as a daily necessity. Therefore, in the near future, the car industries of Bangladesh will go a long way and the automobile industries of this country will go ahead, said Korean Car Industries.

Bangladesh’s cars industry is a dream for Bangladeshi people. Very early the country more growing industrial sectors. We dream future for all types of industry increase Bangladesh’s economy.