Envoy calls for Bangladesh-Thai FTA

Newly-appointed Thai Ambassador to Bangladesh Makawadee Sumitmore has called for free trade agreement (FTA) between Bangladesh and Thailand to create more business opportunities.

The Thai envoy made the urge when the board of directors of the Bangladesh Thai Chamber of Commerce and Industry (BTCCI) paid a courtesy call to her at the Royal Thai Embassy in Dhaka on Sunday, said a press release issued on Monday.

During the meeting, the BTCCI also placed some proposals for enhancing bilateral trade and investment relationship between the two Asian countries.

The proposals include making easy business policy for the business community, working jointly for Thai special economic zone in Bangladesh, inclusion of more duty free Bangladeshi products, relocating labour intensive industry in Bangladesh such as woven textile industry and potential industries such as power and energy, light engineering, electric, food, handicrafts, and other effective bilateral activities.

In reply, the envoy assured business leaders to work on the proposals and also work to facilitate business between the two countries.

She also said that as Bangladesh and Thailand are tested friends and have the ethnic historical and cultural ties, and there were huge opportunities to do good business between these two countries.

Sumitmore thanked the BTCCI for coming forward for the discussion of bilateral issues and put emphasis on the ways and means to promote bilateral trade and investment such as making a free trade agreement, development of ports on Thailand’s Andaman coast to shorten sea transport route to Bangladesh, and the possibility to co-organise events to celebrate the 50th anniversary of diplomatic relations next year.

BTCCI President Mohammad Shahjahan Khan said, “We have lots of scope of cooperation to work jointly in some important sectors like pharmaceuticals, jute and jute goods, leather, tourism and hospitality, infrastructure, agro processing, RMG, etc. As we have huge trade gap between our countries so we should effort jointly to minimise the trade gap.”

At the same time, Sumitmore said that the investment of some Thai big companies in Bangladesh is proof of Thailand’s interest to consider Bangladesh as an investment destination.

She emphasised that apart from trading only, the two countries should try to establish strategic partnerships.

BTCCI former president MA Momen, also the vice-president of FBCCI, said that Thailand needs to import more products from other countries and Bangladesh can be one of its important sourcing destinations.

He said Bangladesh provided a low-cost production base and competitive labour market for Thai businessmen and therefore Bangladesh could be their investment destination.