Businesses to reduce $600m BD-Thai trade gap

Currently, Bangladesh exports only 10 products to Thailand with DFQF facility.

Bangladeshi and Thai businesses are working together to reduce the $600 million trade gap between the two countries, said Sajjatuz Jumma, president of Bangladesh Thai Chamber of Commerce and Industry, at a press conference for the upcoming Thailand Week 2017 on Monday morning.

The value of trade between Bangladesh and Thailand last year was close to $800 million, with imports from Thailand accounting for more than 90% of this amount.

“In order to expand the market for Bangladeshi products in Thailand, Bangladesh is organising the Bangladesh Trade and Investment Expo in Thailand every year,” Jumma said.

“The Joint Trade Committee is also working on it,” he said.

He added that Bangladesh wants to propose a fresh list of products to seek duty-free, quota-free facilities from Thailand at the upcoming meeting of the Joint Trade Committee, which he said will help to reduce the huge trade gap.

Currently, Bangladesh exports only 10 products to Thailand with DFQF facility.

Minister Counsellor (Commercial) of Thai Embassy in Dhaka Suebsak Dangboonrueng said: “We have asked our investors to invest in Bangladesh as the business atmosphere in the country is favourable and improving.”

The Thai government is interested to invest in a renewable energy unit, he said.

The Thai Commerce Ministry’s Department of International Trade Promotion (DITP), the Thai government and the Thai embassy in Dhaka are jointly organising Thailand Week from March 22-25 at the Pan Pacific Sonargaon Hotel.

50 companies will be showcasing various Thai products in the four-day expo, including medicare services, cosmetics, spa, electrical appliances, stationery, household products, jewelry, home décors etc.

The first two days of the expo are set for trade days while the other two days will be open to the public from 10am to 8pm.

source: Dhakatribune