This seminar will discuss the Republic of Korea’s remarkable growth and transformation into a highly industrialized, global leader in innovation and technology, and the potential lessons from Korea for Bangladesh to avoid a “middle-income trap.”
Much like Korea, Bangladesh has experienced decades of successful growth led by manufacturing exports. Korea similarly promoted manufacturing exports, rising from one of the poorest countries in the world in the 1950s to become the 10th largest economy in the world with a per capita income approaching the average of OECD countries today. Its transformation has made Korea a well-known case study of successful development.
A recent joint World Bank and Korea Development Institute Publication highlights the policies and institutional reforms that made Korea’s escape from the ‘middle income trap’ possible. “Innovative Korea: Leveraging Innovation and Technology for Development” reviews how Korea transformed its growth paradigm to a more private-sector-led model emphasizing market competition, innovation, and technology. Korea has a special relationship with Bangladesh, as one of the earliest foreign investors in the ready-made garment industry which helped establish the industry as a major source of economic growth for Bangladesh. Korea today remains the largest foreign investor in Bangladesh’s garment and textile industry.
Dr Fahmida Khatun, Executive Director, CPD will be joining the panel of esteemed speakers at the Macroeconomics, Trade, and Investment GP to a seminar on “Avoiding a Middle-Income Trap in Bangladesh: Lessons from Korea”. Dr Shamsul Alam, Hon’ble State Minister for Planning, Government of Bangladesh will be the Chief Guest of the event. H E Park Young Sik, Ambassador of the Republic of Korea will be present as the Special Guest at the seminar. The other panel speakers are Mr Souleymane Coulibaly, Lead Country, Economist and Program Leader, the World Bank; Dr Zaidi Satter, Chairman, Policy Research Institute (PRI); Mr Md Fazlul Hoque, Managing Director, Plummy Fashions.
