Thailand keen on FTA with Bangladesh promptly

The Thai government has expressed its interest in putting in place a Free Trade Agreement (FAT) with Bangladesh to boost business potential as soon as possible.

In a recent meeting, both nations underscored the importance of the FTA to enhance business opportunities between the two countries.

A 50-member delegation from Bangladesh just concluded a bilateral visit to Thailand, organised jointly by Bangladesh Thai Chamber of Commerce and Industry (BTCCI), the Ministry of Commerce of Thailand along with the Ministry of Foreign Affairs of Thailand, and the Royal Thai Embassy in Bangladesh.

Bangladesh and Thailand are interested in exploring new avenues of cooperation in the blue economy, electronic vehicle assembly and ecosystem management, technical textiles, data-driven modern agriculture, light engineering, halal industry, value-added food processing, etc.

Policy support for SME industries in Bangladesh along with ESG compliance were also discussed for collaboration.

During these bilateral discussions between the private sector and government representatives, a host of new avenues for closer cooperation were discussed.

The largest ever business-to-business matchmaking event took place in Bangkok with more than 100 Thai businesses taking part in the event, said BTCCI on Wednesday.

Over 145 contracts were exchanged during this event between the business delegations.

Shams Mahmud, President of BTCCI, who led the delegation along with the Board of Directors and Makawadee Sumitmor, Ambassador of the Royal Thai Embassy in Bangladesh, called on the Adviser to the Prime Minister of Thailand and Thailand Trade Representative Dr. Nalinee Taveesin, Permanent Secretary of the Ministry of Foreign Affairs Sarun Charoensuwan, Secretary of the Minister of Industry Dr. Pailin Teansuwa and Ekachat Seetavorarat, Deputy Permanent Secretary of the Ministry of Commerce.

During the visit, the delegates also visited the factories of Econowatt Waste Water Management, Lighting and Equipment Public Company Limited (L&E), Kubota Farm and Penn Asia Co., Ltd. (Dry Dye Technology).

BTCCI has planned a host of events in the coming year to take targeted sector trade delegation visits and explore new ways to enhance future trade and cooperation between the private sectors of both Thailand and Bangladesh.