Thailand has made made good progress towards signing a bilateral free trade agreement with Bangladesh, the country’s envoy said during a meeting with Bangladeshi business leaders here on Tuesday.   

Ambassador Makawadee Sumitmor said this during a meeting with FBCCI President Md. Jashim Uddin at his office.

The ambassador said that positive progress has been made on the free trade agreement between Thailand and Bangladesh, according to a FBCCI press release.

The envoy also expressed her country’s interest in increasing imports from Bangladesh  to boost bilateral trade.

The FBCCI president said Bangladesh will need to sign FTA or PTA with other countries as Dhaka will lose some international trade advantages after graduation to a developing economy in 2026.

However, before concluding a free trade agreement, trade balance must be established between the two countries concerned, he said.

Bilateral trade between the two countries has long been in favor of Thailand.

Therefore, he urged Thai investors to invest in Bangladesh.

Thai investment can be lucrative, especially in the agro-processing sector, he said.

At the same time, citing the examples of China, Japan, Korea and India, he mentioned that many countries have taken separate economic zones for their own investors.

He said Thailand can also take such a step.

The Thai ambassador said that if the products are branded, there is a possibility of creating huge demand for Bangladeshi products in his country.

“In particular, there is a huge opportunity to export readymade garments, leather goods and fish from Bangladesh,” she said.

FBCCI Vice President MA Momen proposed to organise a road show in the country and form a joint working group.

Deputy Prime Minister and Commerce Minister of Thailand will visit Bangladesh next year as part of the celebrations of 50 years of diplomatic relations between Bangkok and Dhaka.

The Thai ambassador offered to hold a delegation-level meeting with the FBCCI during the visits.

FBCCI Senior Vice President Mostofa Azad Chowdhury Babu, FBCCI Vice President Md. Habib Ullah Don and FBCCI Secretary General Mohammad Mahfuzul Hoque were also present.