Bangladesh and South Korea have jointly declared the successful conclusion of negotiations regarding the Bangladesh-South Korea Comprehensive Economic Partnership Agreement (CEPA), establishing a framework for significantly expanded duty-free commercial access between both nations.

The joint announcement was made at the Ministry of Commerce by Commerce Minister Khandaker Abdul Muktadir and South Korea's Minister for Trade Han-Koo Yeo, according to an official statement released by the ministry.

To lay the groundwork for the CEPA, both governments initially drafted an agreed Terms of Reference (ToR), after which each country designated its own Trade Negotiating Committee (TNC) and established 11 Technical Working Groups (TWG) comprising officials from relevant ministries, divisions, and public agencies.

The opening round of formal talks commenced in Seoul from August 22 to 27, 2025, with both countries agreeing to finalize the CEPA draft through five planned rounds of discussions under a structured work plan.

Two of the five negotiation rounds were hosted in Bangladesh and three took place in South Korea, resolving the majority of textual issues at the technical working level.

To address remaining points of contention, the chief negotiators conducted nearly 40 online sessions, successfully reaching a full consensus at the negotiator level.

Upon its official implementation, Bangladesh will gain immediate duty-free market entry for 8,428 commodities in South Korea starting from the day of signing, while South Korea will receive reciprocal duty-free access for 1,054 products in the Bangladeshi market.

Prime Bangladeshi exports—most notably ready-made garments (RMG), leather and leather items, and footwear—will enjoy duty-exempt access to South Korea effective immediately on the signing date.

Both sides also established major commitments regarding services trade, with Bangladesh opening 95 sub-sectors to South Korean entities, while South Korea agreed to open 111 sub-sectors across four service modes for Bangladesh.

This framework is expected to accelerate South Korean capital investments and technological transfers into Bangladesh.

As a least developed country (LDC), signing a comprehensive economic partnership deal with South Korea—the world's 15th largest economy—presents extensive trade and economic advantages for Bangladesh, paving the way for expanded commercial volume, heightened foreign investment, and fresh job creation while opening a new chapter in bilateral economic relations.

The conclusion of talks signifies the completion of negotiator-level proceedings, and the agreement will formally enter into force once both nations complete necessary legal protocols and obtain executive cabinet approval.

The formulation of the Bangladesh-Korea CEPA was included within the present administration's 180-day priority agenda, with the target successfully realized through the direct oversight of Commerce Minister Khandaker Abdul Muktadir and the dedicated efforts of the negotiating delegation.

The landmark announcement event was attended by Commerce Secretary Ataur Rahman Khan, Bangladesh's Chief Negotiator Ayesha Akter, Additional Secretary (FTA) at the Ministry of Commerce, South Korea's Chief Negotiator Park Geun-oh, Director General for Trade Agreement Policy of South Korea, and Deputy Chief Negotiator Feroz Uddin Ahmed, Joint Secretary at the Ministry of Commerce.