Editorial
PM's trip to Seoul to boost cooperation
Mutually beneficial deals struck
PRIME Minister Sheikh Hasina's visit to South Korea ended on a dynamic and forward-looking note, with the two countries agreeing to further expand bilateral ties in some key areas. To put in more concrete terms, Seoul and Dhaka have signed four deals, announced in a joint communiqué at the end of the trip, with a view to boosting economic cooperation and interaction in different fields.
South Korea, one of our leading development partners, has been contributing to our national economy for years in various ways. For example, around 150 South Korean companies are operating in Bangladesh, which account for nearly one hundred thousand jobs.
However, the two countries have rightly decided to open some new vistas that would make bilateral cooperation more fruitful. South Korea, with its highly buoyant economy and technological advancement, is well placed to help Bangladesh overcome its energy crisis and mitigate some of the impacts of climate change. The deal signed by the two countries on energy cooperation is an indication of South Korea's willingness to offer us assistance in this important sector.
More investment by South Korean entrepreneurs in Bangladesh and transfer of technology are also areas where bilateral cooperation is set to gather momentum. Similarly, South Korean assistance in our infrastructure development will accelerate the pace of our industrial growth.
There are some more areas where Seoul has agreed to help Bangladesh. Bangladesh is a major manpower exporting country, but the manpower is by and large unskilled which adversely affects out competitiveness in the global job market. South Korea, known worldwide today for its technological edge, can assist us in setting up technical and vocational institutes which will enable Bangladesh to churn out a skilled labour force for the international job market in future. Obviously, upgrading the unskilled workforce into a skilled one is a matter of top priority for the country. And foreign assistance in this field will help us achieve our target with a view to facing the stiff competition in the global job market. Koreans also have much to offer to our emerging ship-building industry.
Bangladesh has a lot to learn from the Korean experience of transforming a weak and struggling economy into a strong and technologically advanced economic giant. The Koreans themselves had to start from almost scratch and have shown the world how a scientific approach supported by steadfast work ethic, patriotism and determination can change everything within a few decades.
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