Dhaka calls for feasibility study on FTA

FE REPORT | Published: October 19, 2024 22:22:30

Dhaka has offered Bangkok to carry out a joint feasibility study on the proposed Free Trade Agreement (FTA) between Bangladesh and Thailand with an eye to enhancing the bilateral trade volume.
Officials said Bangladesh ambassador to Thailand Faiyaz Murshid Kazi recently sat with Dr Nalinee Taveesin, adviser to the Thai prime minister, to this end.
They talked about the joint study and the launch of a direct coastal shipping system between the two countries.
The 6th Joint Trade Committee meeting in Dhaka on August 28-30 was postponed due to unavoidable reasons. The 5th meeting was hosted in Dhaka on 7-8 January 2020.
A letter of intent was already signed in April to expedite the FTA negotiation process.
In the 6th meeting, which might be held within months, the Department of Trade Negotiations (DTC) of the Ministry of Commerce of Thailand would discuss the possible components of the FTA and investment cooperation.
Earlier on July 13-17, a Thai business delegation, led by Dr Taveesin, visited Dhaka. During the visit, the team showed its interest in increasing trade and investment cooperation with Bangladesh.
An official of the Bangladesh commerce ministry said, "We are working on the issue as we want to sign a FTA with Thailand."
In a letter sent to the ministry, envoy Faiyaz said, "We're discussing with the Thai authorities concerned about the implementation of the joint feasibility study on the FTA and the launch of a direct coastal shipping service."
Besides, initiatives are being taken to revive the Thai-Bangladesh Business Association, which has remained inactive for several years, comprising Thai businessmen with the help of the embassy.
"We believe if the 6th JTC meeting is hosted in Dhaka within the next few months, it will be possible to maintain the interest and optimism generated about Bangladesh among the Thai business representatives," added Mr Faiyaz.
Thailand has allowed the duty-free, quota-free facility for Bangladeshi products in its market until 2026, when Bangladesh graduates from its least-developed country status, to enhance bilateral trade volume, according to an official.
Bilateral trade between Bangladesh and Thailand is more or less $910.05 million.
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