Overview
- The two countries announced an agreement in principle Tuesday in Dhaka after five rounds of formal talks that began in November 2024, meaning main provisions are set while technical details remain to be worked out.
- The deal eliminates tariffs on many goods, including Korean instant noodles, processed coffee, seasoned seaweed and confectionery, and removes Bangladeshi duties on diesel, vehicle knock-down kits and auto parts.
- Korea will open duty-free access for Bangladeshi clothing, footwear, leather goods, jute, spices, black tea and baked goods, while flexible rules of origin will apply for major exports such as petrochemicals and electronics.
- The CEPA expands services and investment access for Korean firms in more than 90 sectors, including content, e-learning, health care, telecoms, construction and distribution, and includes cooperation on infrastructure and industry projects.
- Next steps include working-level consultations to finalize technical items, followed by formal signing and domestic approval processes, with the pact expected to deepen trade ties as Bangladesh prepares to graduate from least-developed-country status.