PUBLISHED: 27 Apr 2024 at 05: 27
A letter of intent signed on Friday will speed up the negotiation process, according to Prime Minister Srettha Thavisin, and Thailand and Bangladesh are both committed to working together toward a free trade agreement (FTA ).
Mr. Srettha expressed his satisfaction that Bangladesh and Thailand have partnered to create an FTA.
He said that both nations on Friday signed the” Letter of Intent on the Commencement of Thailand and Bangladesh FTA Discussions.”
After meeting with Sheikh Hasina, Mr. Srettha, and witnessing the filing of five Memorandum of Understanding at Government House in Bangkok, Mr. Srettha attended a press conference.
Aside from these, three additional Accords and agreements were signed on Friday: the one on Visa Exemption for Holders of Official Passports, which will make it easier for Thai and Bangladesh leaders to go, an MoU on Energy Cooperation, which will help facilitate the achievement of power assistance, a MoU on Cooperation and Mutual Assistance in Customs Matters, which will enable effective border control and anti-smuggling activities, and an MoU on Cooperation in the Field of Tourism, which will enable both nations to
Both parties are aiming to improve participation in agriculture, especially in the kosher and meals processing sectors, according to Mr. Srettha. Both countries will work together to make the most of their assets, he said, to ensure the food security of their citizens.
The two nations even value improved accessibility and infrastructure, according to the two nations. The introduction of direct transport between Ranong Port and Chittagong Port may improve sea connection and support socioeconomic activity, he said.
Regarding industry, Mr. Srettha stated that both Thailand and Bangladesh welcome the US$ 1.2 billion bilateral trade amount and think that both countries can work together to improve economic cooperation.
He claimed that he encouraged Bangladeshi firm to promote investment and ease business, which would help Indian investors become more interested and interested.
He stated that Bangladesh will take over as the second Bimstec head while Thailand will host the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation Summit this time.
Bimstec is said to be a vital force behind regional economic expansion.