50 years back Korea used to borrow from developed countries but now they have become important development partner for many least developed countries. Bangladesh and Korea have one thing in common- both experienced war and brutality. Despite that Korea has been able to multiply its per capita income 400 times in last 50 years. Commerce Minister Tofail Ahmed made this observation in the dialogue titling ‘Korean Development Experience: Lessons for Bangladesh’ jointly organised by Centre for Policy Dialogue (CPD) and Embassy of Republic of Korea. Commerce Minister also told that trade relationship between Bangladesh and Korea is increasing, in 2012-13 fiscal year Bangladesh exported $250 million worth products to Korea and in 2013-14 this was $345 million. In his opening remarks Ambassador of Republic of Korea in Bangladesh H E Mr Lee Yun-young observed that Foreign Direct Investment (FDI) and regional cooperation heavily contributed to Korea’s development and Bangladesh can follow this model. He also urged Bangladesh to focus on skill development and start evening school for children in factories.
Session 1: Korea’s Experience of Regional Cooperation: Lessons for Bangladesh
Korean Experience of Economic Cooperation:Perspectives from Bangladesh
Dr Khondaker Golam Moazzem
The Korean Economy in a Globalized World
Dr Moonsung Kang
Session 2: Global Best Practices of CSR: Implications for Bangladesh
Desirable CSR from the Perspective of Bangladesh
Ms Shahamin S Zaman
The Latest CSR Trends and Implications for Bangladesh: From Korea’s Experience
Professor Jaemin Lee
Divided into two sessions the dialogue deliberated on Korea’s economic development, regional integration and relevant experience for Bangladesh and global best practices of CSR. Dr Moonsung Kang, Professor of International Studies, Korea University in his presentation focused on Korea’s past and present economic policies. He highlighted on Korea’s policy shift from agrarian economy to industrialised economy and adaptation of export-oriented industrialisation strategy. He also said that Korean economy also boosted by FTA and FDI. Dr Khondaker Golam Moazzem, Additional Research Director of CPD highlighted Korean experience of regional integration from Bangladesh’s perspective.
[box type=”info”]Press Reports on the Dialogue[/box]
In the session on CSR Dr Jaemin Lee, Associate Professor of School of Law, Seoul National University presented the latest CSR trends in Korea. He mentioned that CSR is getting increasing attention from people, educational institutions, corporations and government of Korea. He also informed that Korea has accepted and implemented OECD guidelines for multi-national companies and this has contributed to socio-economic development of Korea. Ms Shahamin Zaman, Executive Officer, CSR Centre through her presentation presented informed that Ministry of Planning is working on national CSR guidelines and also Bangladesh Bank is drafting CSR guideline for the financial sector. She emphasised that CSR should be mainstreamed to achieve post-MDG agenda and private sector led growth in Bangladesh.
Mr Hedayetullah Al Mamoon, Senior Secretary of Ministry of Commerce was present as Chief Guest at the session on CSR. Ambassador Farooq Sobhan, President of Bangladesh Enterprise Institute drew on global and Bangladesh’s historical perspective of CSR and its implication in sustainable development. He emphasised that Bangladesh should promote culture of good CSR practices that will ultimately contribute towards socio-economic development.In final remarks Dr Debapriya Bhattacharya mentioned that CSR is about moving from shareholders to stakeholders. He felt that in order to be effective core value of the company must be strengthened and CSR activities need to be made transparent.