At the meeting, the Commerce Minister assured that various operational and import-related problems of Korean investors would be resolved on a priority basis. In addition, he proposed setting up a specialized ‘Design and Development Center’ in Bangladesh to attract joint investment in the shipbuilding sector and utilize local engineers. The South Korean Ambassador responded positively to the proposal and expressed interest in exploring opportunities for technology transfer and joint investment.

The Ambassador highlighted issues of administrative complexity in importing products of Samsung’s research and development (R&D) center and obstacles in customs policy. In this context, the Commerce Minister directed that a Joint Secretary of the Ministry of Commerce be assigned as a focal point to resolve these problems quickly. The Commerce Minister also said that a joint coordination meeting with the NBR, the Ministry of Finance, and Korean investors would be organized soon.