BGMEA, The Bangladesh Garment Manufacturers and Exporters Association, signed a memorandum of understanding, MoU with the Korea Federation of Textile Industries, KOFOTI, to promote trade & investment, particularly in the apparel and textile industries, of both countries.
The MoU includes more cooperation in the areas of exchange of information and discussion of trade issues between Bangladesh and South Korea.
The collaboration also seeks to promote direct or joint venture investments from South Korea to Bangladesh in non-cotton textiles, high-end garment items, woven textiles and garments, skills development and innovation.
BGMEA President Faruque Hassan and KOFOTI Chairman Sang Woon Lee signed the MoU in South Korea’s Seoul Monday, 24 October.
“South Korea is one of the emerging markets for Bangladesh in the East Asian region. As we have identified innovation, diversification and technological up-gradation as the key strategic priorities for our future growth, a collaboration between Bangladesh and South Korea is crucial,” Faruque said.
BGMEA Vice-President Shahidullah Azim, Director Asif Ashraf, Korea Trade-Investment Promotion Agency Director General Jong Won Kim, Korea Fashion Industry Association Vice-President Kim Sung Chan, KOFOTI Executive Vice-Chairman Soyoung JOO, Korea Textile Trade Association General Director Jung-kee Lee, DBL Group Managing Director of MA Jabbar and Hams Group Managing Director Md Shafiqur Rahman were also present.
