The New Nation - Internet Edition

South Korea has decided to allow duty free access of Bangladeshi goods into its markets, aiming to augment bilateral trades, the South Korean Ambassador to Bangladesh said .

South Korean Ambassador Suk-Bum Park said his government has recently forwarded its decision to Dhaka, offering duty free access of over 300 kinds of Bangladeshi products into its markets from this year.

In line with the offer, Bangladesh's products including textile items, synthetic fibers, jute goods, silk items, cotton, automobile parts, dry foods, etc. would enjoy the benefits of duty free access to South Korean markets.

In the fiscal year 2007-08 (July 2007-June 2008), South Korea exported goods worth 612 million US dollars to Bangladesh, while imported goods worth 142 million US dollars, according to the data available with the Ministry of Commerce.

Bangladesh imports petrochemical items, paper products, machinery, high-quality fabrics and electronic items from South Korea, while it exports frozen foods, garment products and naphtha to South Korea.