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PM goes to Seoul May 25

Dhaka may offer special zone for ROK investors

By M Anwarul Haq
Bangladesh is likely to seek investments in Joint ventures during the upcoming official trip of the Prime. Minister to Seoul beginning May 25. Dhaka may also offer to set up an exclusive economic zone for South Korean investors, it was learnt.
On ihe trip, taking place at the invitation of President Kim Young Sam, Begum Khaleda Zia will be accompanied by a number of cabinet ministers, senior officials and a delegation of leading businessmen.
Strengthening of economic cooperation and trade expansion will top Ihe agenda of the visit and also dominate the official talks between President Kim and Begum Zia. The two leaders are also expected to exchange views on bilateral
cooperation and matters of re gional and international issues of common concern.
An investment seminar is due to take place in Seoul during the Prime Minister's trip where interested Korean entrepreneurs and businessmen will get an opportunity to learn about business prospects in Bangladesh. Around 200 leading members of the Korean chambers of trade and fndustry have been invited to the seminar.
Members of the fairly large business delegation, the biggest since the one which accompanied the Prime Minister on her trip to Japan last year, are expected to explore new areas 'of economic cooperation and strike joint venture deals.
Seoul and Dhaka are expected to sign three agreements during the Prime Minister’s trip. These include a protocol on cooperation in the sphere of science and technology, a cultural exchange programme and a meinorandinn of understanding for the setting up of a 50-bed modern friendship hospital on the outskirts of Dhaka.
Tlx Republic of Korea may also extend a 30-million dollar credit. It was learnt.
Several Korean firms are involved In the garments business in Bangladesh. The giant Korean corporation Hyundai also got the main contract for the Jamuna multi-purpose bridge
Dhaka Seoul trade is still at a rather low level and the forthcoming talks between the leaders of the two countries should help lay adequate emphasis on increasing and diversifying the volume of commercial contacts. Exports from South Korea mainly comprise of machinery, textiles and automobiles while Bangladesh exports mostly Include garments. some Jute and leather.
Bangladesh will also discuss the possibility of exporting more manpower to the Republic of Korea
Ihe date for the next meet Ing of the Bangladesh-Korea Joint Ecunomlr Cooperation is also likely to be finalised. The third and last meeting of the JEC was held in December 93
During Iiegiim Zia s stay in Seoul South Korean Prime Minister Lee Hong-Koo is scheduled io call on her A number ol Korean business leaders are also expected to confer with her.