Dhaka, Bangkok to start FTA talks to increase business to $2b: Envoy

Business Report :
Bangladesh and Thailand will start Free Trade Talks (FTA) next month in a bid to increase the bilateral trade to the tune of $2 billion.
A high-level Thai trade delegation will visit Bangladesh to hold talks with the Bangladesh delegation to be headed by State Minister for Commerce Ahasanul Islam Titu Ahsanul Islam Tito, in the last week of August in Dhaka, Thai Ambassador to Bangladesh Makawadee Sumitmor said while speaking at a press conference on a Thai food festival at the Pan Pacific Sonargaon hotel today (7 July).
Pan Pacific Sonargaon Dhaka, in association with the Thai Trade Centre and Embassy of Thailand, will organise a four-day-long Thai Food Festival from 10-13 July.
The Thailand Trade Show will also be taking place at the Grand Ballroom of the Pan Pacific Sonargaon Hotel.
While talking to a question, Makawadee Sumitmor said Thailand will send a high-level Thai business delegation to explore business potentials and investment environment in Bangladesh.
The Thai diplomat also mentioned that during the visit of Prime Minister Sheikh Hasina to Thailand, the Bangladesh premier invited Thai entrepreneurs and businessmen to invest in prospective sectors of Bangladesh.
While responding to another question, Makawadee Sumitmor said Thai investment in Bangladesh will help reduce the trade gap between the two countries.
Makawadee Sumitmor said trade fairs are a way to strengthen the relationship between two countries, adding that a total of 64 exhibitors will take part in the exhibition.
Terming Thailand as one of the popular tourist destinations in the world, Makawadee Sumitmor said the number of Bangladesh visitors reached the pre-pandemic level as some 140,000 Bangladesh visitors toured Thailand in 2023.
She also said Thailand issues some 4,000 medical visas to Bangladeshis a year as Southeast Asia is also a popular medical tourist destination in the world.
Meanwhile, Prime Minister Sheikh Hasina visited Thailand on 24-29 April on a bilateral and multilateral visit at the invitation of her Thai counterpart, Srettha Thavisin, to strengthen bilateral relations between the two countries.
He said high tariffs on Thai products are stifling exports to Bangladesh to the desired level in spite of having high demands.
Citing high tariff and high tariff barrier (NTB) as a bottleneck in promoting trade, the Thai Minister Counsellor (Commercial) demanded removal tariff and non-tariff barriers. Referring to high level meetings between two countries in Bangkok on several occasions, he said Thailand has raised the issue of high tariff and has urged Bangladesh to reduce high tariff on Thai products.