Seoul: South Korea and Bangladesh have reached an agreement to commence negotiations for an Economic Partnership Agreement (EPA) with the goal of expanding their trade portfolio, as announced by the trade ministry. Trade Minister Cheong In-kyo declared the initiation of talks during a meeting with his Bangladeshi counterpart, Sheikh Bashir Uddin, in Seoul. According to Yonhap News Agency, the Ministry of Trade, Industry and Energy stated that the initial discussions for the bilateral EPA are anticipated to occur in the first half of 2025. Additionally, the two nations have signed the Trade and Investment Promotion Framework (TIPF), which is a nonbinding agreement designed to enhance economic ties and promote cooperative exchanges across various sectors. Cheong emphasized that the TIPF will lay the groundwork for bilateral economic cooperation, serving as a foundation for the forthcoming EPA negotiations. He highlighted that the proposed EPA aims to diversify the trade portfolio of both countries, currently dominated by the textile industry, to include sectors like electronics and digital technology. Furthermore, the ministry expressed South Korea's intentions to engage in state-led infrastructure projects in Bangladesh, focusing on areas such as electricity, road construction, and aviation.