Bangladesh and Thailand to start free trade agreement (FTA) talks to boost trade; The two countries are going to sign a letter of interest in this regard during Prime Minister Sheikh Hasina’s visit to Bangkok.
Foreign Minister Hasan Mahmud gave this information in a press conference at the Ministry of Foreign Affairs on Monday regarding the Prime Minister’s visit to Thailand.
Prime Minister Sheikh Hasina is going to Bangkok on Wednesday on a bilateral visit at the invitation of Thai Prime Minister Shretha Thavisin.
He will also attend the 80th session of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) during this five-day visit.
Hasan Mahmud said that in this visit of the head of government, four agreements and memorandum of understanding will be signed between the two countries in addition to signing the ‘Letter of Intent’ regarding the start of FTA negotiations.
“Letters of Intent will be signed to begin negotiations for a free trade agreement. Letter of Intent for the Free Trade Agreement we will begin negotiating. We are both interested.”
Bangladesh always has a large trade deficit with Thailand as Thailand has the opportunity to export various types of products. For this reason, the government has been seeking trade benefits in sending several products.
According to the data of the Bank of Thailand, the amount of trade between the two countries was more than 118 million dollars in 2023. Out of this, Bangladesh’s export share is about 9 million dollars.
In 2022, goods from Bangladesh to Thailand were only worth 83.1 million dollars; On the contrary, imported goods worth 117 million dollars.
Foreign Minister Hasan Mahmud at the press conference of the Ministry of Foreign Affairs on Monday regarding the Prime Minister’s visit to Thailand.
Officials of the Ministry of Foreign Affairs say that the government believes that the free trade agreement can play a role in reducing this huge gap in bilateral trade.
Sheikh Hasina’s visit will see the signing of three separate MoUs on visa exemption agreements for official passport holders and mutual cooperation on energy, tourism and customs.
The Foreign Minister said, “Through this visit, the review of the ‘Free Trade Agreement’ for the expansion of trade and increase in import-export between the two countries, as well as other matters of common interest, especially in the areas of investment, tourism, energy, land and sea connectivity, development etc., will be discussed in detail. – Opportunities for discussion will be created.”
He said that Bangladesh and Thailand can achieve mutual benefits by utilizing the immense potential of the tourism sector through joint activities and exchange of expertise in human resource development, Buddhist circuit tourism promotion, investment in tourism areas, etc.
“This collaboration in the tourism industry will create significant economic growth and employment opportunities in both countries. Besides, visa exemption for official passport holders of Bangladesh and Thailand will facilitate communication between government officials of both countries and government officials will be able to attend various meetings-seminars and trainings on time.”
Prime Minister of Thailand Shretha Thavisin will officially welcome Prime Minister Sheikh Hasina by providing a guard of honor on April 26.
After that, there will be a bilateral meeting between the two Prime Ministers at the Government House of Thailand. Prime Minister Hasina will attend the state lunch organized by Prime Minister Shretha on the same day.
Prime Minister Sheikh Hasina will also meet King Vajiralongkorn and Queen Suthida at the Royal Palace of Thailand during the visit.
The foreign minister said, “Overall, the Prime Minister’s visit is significant for both countries as it will open new doors of cooperation between the two friendly countries.”
The Prime Minister will address the UN Agenda 2030 and Sustainable Development Goals at the opening of the 80th session of UNESCAP on April 25 before the start of the bilateral formalities.
United Nations Under-Secretary and Executive Secretary of the Economic and Social Commission for Asia and the Pacific Armida Salsiah Alishabana will pay a courtesy call on Prime Minister Sheikh Hasina that day.
Thailand’s cooperation ‘sought’ to repatriate Rohingyas
Foreign Minister Hasan Mahmud has said that Thailand, an important member of ASEAN, will seek the cooperation of the Rohingya refugees who fled from Myanmar.
He said, “During this visit, Bangladesh’s application for ASEAN’s ‘Sectoral Dialogue Partner’ status will be strongly urged.
“Furthermore, ASEAN member states, including Thailand, will be strongly urged to play a more active and effective role in the ongoing political conflict in Myanmar and in ensuring the speedy repatriation of the Rohingya.”
Hasan Mahmud said to a question about this, “As we are going through many problems by sheltering the people expelled from Myanmar and this problem has been kept alive for the last seven years or Myanmar has not taken them back.
“At the same time, many displaced people from Myanmar have also taken refuge in Thailand. They also faced the same problem. So naturally these discussions will happen.”
He said, “At the same time, ASEAN countries have a great influence on Myanmar. Since Myanmar is a member of ASEAN, Thailand is a bona fide member of ASEAN.
“So we have asked for their cooperation before, we will still ask for their cooperation. Those expelled from Myanmar, let Myanmar take back their citizens with dignity.”
Stating that there will be discussions during the visit to increase communication between Thailand and Bangladesh, the foreign minister said, “We will definitely discuss maritime trade and other issues. Connectivity is all about sea, air and road.”
The Ports Authority of Thailand (PAT) and Chittagong Port Authority signed a memorandum of understanding in 2021 to start direct shipping between the two countries. But the agreement has not yet been implemented.
To a question in this regard, Chittagong-7 Constituency Member of Parliament Hashan Mahmud said, “These will be discussed. I am very keen to raise this issue.”
