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ED: Opening up trade opportunities with Thailand

  • Published at 02:39 am September 29th, 2021
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Photo: PIXABAY

It would open up the pathway to creating new trade and manufacturing opportunities

Newly appointed Thai ambassador to Bangladesh, Makawadee Sumitmore, has called for the signing of a Free Trade Agreement (FTA) between Bangladesh and her country to create more trade and investment opportunities between the two nations. She made the call when the board of directors of Bangladesh Thai Chamber of Commerce and Industry paid a courtesy call on her at the Thai embassy on Sunday. The bilateral chamber also placed some proposals for enhancing the bilateral trade and investment relationship between Bangladesh and Thailand, according to a press release.

Bangladesh has enjoyed a good relationship with Thailand for a long time by now. It is a major tourist destination for Bangladeshis, and Thai products are some of the most attractive offerings at any kind of trade fair. Bangladesh has also been attaining the sort of quality control that makes its products attractive for international buyers as well, so an FTA would bolster the already strong trade and tourism relationship both of the countries have.

Moreover, Bangladesh is on the cusp of a demographic dividend. As the number of people who are becoming eligible to enter the workforce increases, the government needs to make sure that enough jobs are being provided, in order to avoid social unrest and stop dishonest businessmen from taking advantage of the situation. As such, the FTA would not only bolster existing trade relations, it would open up the pathway to creating new trade and manufacturing opportunities within the country, which would be a boon for all.

Bangladesh has always maintained a policy of being friends with everyone, and in this increasingly tight knit and globalized world, economic friends like this are key. More trade results in more opportunities, and more opportunities like this are always welcome.