Dhaka: Commerce Minister Tofail Ahmed on Thursday said South Korea has given a proposal to make huge investment in the information communication technology (ICT) sector in Bangladesh.

‘South Korea is a friendly state. It has given duty-free access to 4,800 products of Bangladesh to reduce trade gap between the two countries,’ he said talking to journalists after newly appointed South Korean Ambassador Ahn Seong-doo called on him at his secretariat office.

The minister said 90 percent of Bangladesh's total exports is now getting duty-free facilities.

Referring to Korean investments in Bangladesh, he said about 55 thousand workers are working in 22 factories in Chittagong Korean Export Processing Zone (KEPZ).

‘Bangladesh is now very much suitable for investment. The government is giving attractive facilities to the investors,’ he said, adding that both the countries would be benefitted, if South Korean investment increases in Bangladesh.

Tofail Ahmed said South Korea has expressed keenness to increase investment and trade with Bangladesh.

South Korean envoy said Bangladesh is a close trade partner of his country.

South Korea has invested in Bangladesh and it will make huge investments here in the future, he added.

The envoy said South Korea is interested in joint investment in the ICT sector in Bangladesh.

He said Korea will give assistance to implement Bangladesh's Vision-2021 and Vision-2041.

Commerce Ministry Senior Secretary Hedayetullah Al Mamun was present on the occasion.