Industries Minister Nurul Majid Mahmud Humayun said that the relationship between Bangladesh and Thailand is more than a thousand years old, based on strong ties of civilization, culture and language. Our bilateral relations reached a new height with Prime Minister Sheikh Hasina’s visit to Thailand in April this year. During the visit, the leaders of both the countries stressed on strengthening bilateral trade and investment and appreciated the signing of Letter of Intent (LOI) for the early commencement of negotiations towards a Free Trade Agreement (FTA). This will encourage bilateral trade and investment between our two countries.
The minister said this while addressing the chief guest at the opening ceremony of the four-day (July 10-13) “Top Thai Brands” Trade Fair 2024 jointly organized by the Royal Thai Embassy in Dhaka and the Thai Trade Center at the Grand Ballroom of Hotel Pan Pacific Sonargaon in the capital on Wednesday, July 10, 2024.
Deputy Chief of Mission and Minister Counselor of Thai Embassy Phanom Thongprayum and Minister Counselor (Commercial) Khemathat Archawathamrong spoke as special guests at the event presided over by Thai Ambassador to Bangladesh Makawadee SUMITMOR.
The minister said that Thailand is very important as a trade partner for Bangladesh in Southeast Asia (ASEAN) region. Bilateral trade between the two countries has been steadily increasing over the years. Bilateral trade currently stands at USD 1.2 billion with huge potential for further growth. He said, we can increase cooperation in agriculture and food processing; can work to improve infrastructure and connectivity; In particular, a direct shipping route can be established between Ranong Port in Thailand and Chittagong Port in Bangladesh. He also said that Bangladesh and Thailand are ready to work together to achieve greater prosperity and development by increasing mutual cooperation and partnership.
Nurul Majid Mahmud Humayun said Bangladesh is one of the fastest growing economies in the world and has a business-friendly environment for foreign investors. The Minister said, we are creating 100 Special Economic Zones (SEZ) to attract foreign investment and invite Thai investors to invest there. He said, to fully exploit the potential of bilateral trade, Bangladesh wants to expand exports of products such as manufactured garments (RMG), medicines, frozen food, cables, rice, agricultural products, handicrafts, jute, potatoes and ceramics to Thailand. At the same time, Bangladesh wants to import various skills from Thailand in food production and processing, canning, packaging, IT, tourism, medical tourism and capacity building of medical personnel.
At the start of the event, a mesmerizing Thai dance performance was performed.
Note that 64 Thai companies and importers of Thai products in Bangladesh are participating in this fair of attractive Thai products. World-class Thai products including food, jewellery, healthcare, cosmetics, bedding, spa, electronics, textiles, underwear, stationery, household products are displayed at the fair. The fair will run from 10 am to 8 pm every day.
