Bangladesh urges Thailand to cut tariffs and buy more medicine and jute to narrow trade gap

Bangladesh has urged Thailand to increase imports of Bangladeshi medicines, jute and jute products and to cut tariffs on those products, in order to narrow the bilateral trade gap and improve the competitiveness of Bangladeshi goods in the Thai market.

Dhaka raised the two proposals at the fourth Foreign Office Consultations (FOC) meeting between Bangladesh and Thailand, held on Friday (October 30) at Thailand's foreign ministry. A press release from the foreign ministry in Dhaka gave the information.

Foreign Secretary Asad Alam Siam led the Bangladesh delegation. Thailand's delegation was led by Eksiri Pintaruchi, permanent secretary of the country's foreign ministry.

Thailand expressed interest in considering Bangladesh's proposals and in expanding bilateral trade and investment. The Thai delegation also requested an early start to talks on a bilateral free trade agreement (FTA).

The meeting reviewed progress in bilateral cooperation across trade, investment, connectivity, labour migration, energy, agriculture, culture, education, training, defence and climate change.

Both sides expressed satisfaction that the first direct shipping service between Chattogram and Thailand's Ranong port was launched in September this year. The service is expected to cut cargo transport time from about 15 days to four days, reducing transport and supply costs and increasing bilateral trade.

Bangladesh sought Thai technical cooperation and investment in processing Bangladeshi fruit and vegetables. Dhaka also requested technology transfer to make use of the global halal food market.

Under the Thailand International Cooperation Agency (TICA) programme, Bangladesh requested professional training in hospitality, nursing, germplasm and food processing. Thailand expressed interest in sharing experience from its “One Village One Product” programme with Bangladesh.

Both sides agreed to consider finalising various memorandums of understanding under discussion, including on rice imports and labour migration.

Expressing satisfaction with ongoing energy cooperation, Bangladesh urged Thailand to share its experience and expertise in generating electricity from agricultural residues and agro-industrial waste. The Bangladesh delegation also raised the government's target of producing at least 20 percent of the country's total electricity from renewable sources by 2030.

Ahead of the 55th anniversary of diplomatic relations between the two countries next year, both sides stressed political-level contacts and exchange of visits, and expressed hope of arranging visits by the two heads of government. They also agreed on joint initiatives to increase cultural and sports exchanges; Bangladesh offered experience and training support in cricket, while Thailand expressed interest in providing taekwondo training.

On regional cooperation, Bangladesh praised Thailand's continued support for its aspiration to become an ASEAN Sectoral Dialogue Partner and its efforts to join the Regional Comprehensive Economic Partnership (RCEP). Dhaka also sought Bangkok's cooperation in repatriating Rohingya displaced from Myanmar's Rakhine State.

Both sides expressed concern over the growing threat of cross-border crimes including human trafficking, arms smuggling, online fraud and drug trafficking. They agreed to work together on these challenges and to consider forming a joint committee under the two countries' home ministries.

At the end of the meeting, both sides reaffirmed their commitment to strengthening relations by increasing cooperation at bilateral, regional and international levels.