Seoul may not offer DFQF benefit to Bangla imports post LDC graduation

In March last year, the Bangladesh mission requested the Korean trade, industries and energy ministry to form a joint feasibility study team on implementation of the Free Trade Agreement (FTA), but the ministry is yet to inform the mission regarding the issue.

The embassy of Bangladesh anticipates an adverse impact on the country’s exports to South Korea as most Asian nations already have regional and bilateral agreements with the latter, according to Bangla media reports.

If the DFQF facility is discontinued, it will discourage South Koreans from investing in Bangladesh, it said.

South Korea now offers duty-free market access to Bangladesh in 95 per cent of tariff lines. Bilateral trade between both sides has crossed $2 billion.

ALCHEMPro News Desk (DS)