Business leaders stress Bangladesh-Thailand FTA to unlock regional trade potential
They also have emphasised the need to boost bilateral trade, investment, and economic cooperation to expand market access across Southeast and Asia-Pacific regions
Business leaders from Bangladesh and Thailand today (9 July) stressed the importance of implementing a Free Trade Agreement (FTA) between the two countries to unlock regional trade opportunities.
They also have emphasised the need to boost bilateral trade, investment, and economic cooperation to expand market access across Southeast and Asia-Pacific regions, reads a press release.
Business leaders form the both country made the observation at a meeting between the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the Thai-Bangladesh Business Council.
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FBCCI Administrator Md Hafizur Rahman presided over the meeting, which was attended by Panom Thongprayon, Chargé d'affaires of the Royal Thai Embassy in Dhaka.
Highlighting the trade potential between Bangladesh and Thailand, Hafizur Rahman said Thailand serves as a major commercial hub in the Asia-Pacific region, while Bangladesh offers a large pool of skilled and young workforce.
"These advantages present strong opportunities to enhance the competitive capabilities of both countries," he said.
Rahman identified key sectors for investment cooperation including processed food, tourism, healthcare and pharmaceuticals, infrastructure, energy, and light engineering.
He expressed hope that both the countries would move forward with the FTA initiative, which he believes would accelerate the import and export of goods and services and promote bilateral investment.
He further underscored the strategic importance of leveraging regional market access through an FTA in the Asia-Pacific landscape.
Chargé d'affaires Panom Thongprayon expressed optimism that Bangladesh and Thailand would work closely to strengthen bilateral trade and mutual cooperation.
He said such engagements will further deepen networking among business communities from both countries.
President of the Thai-Bangladesh Chamber of Commerce and former President of the Dhaka Chamber of Commerce and Industry (DCCI) Shams Mahmud, Senior Vice President of the Thai-Bangladesh Chamber and former Vice President of FBCCI Md Munir Hossain, Secretary General of FBCCI Md Alamgir, Head of FBCCI's International Affairs Wing Md Zafar Iqbal were present at the meeting among others.
Bangladesh and Thailand are strengthening their trade relationship, with plans to launch formal free trade agreement (FTA) talks by the end of 2025.
Bilateral trade reached $1.13 billion in 2024, with Thailand holding the second-largest trading partner position for Bangladesh in South Asia.
In 2024, Thailand's exports to Bangladesh were valued at $1.04 billion, while Bangladesh's exports to Thailand reached $84.77 million.
Both countries are actively working to expand trade and investment opportunities, particularly in the private sector, focusing on areas like infrastructure, food processing, and ICT.
Thailand exports items like refined petroleum, cement, and rice to Bangladesh, while Bangladesh's exports to Thailand include garments, natural gas, and seafood.
