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Bangladesh, Thailand Discuss Bilateral Cooperation in Shipping, Trade, and Energy
15 March 2018
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Bangladesh's 'Look East Policy' and Thailand's 'Look West Policy' could be synchronized to create new trade and economic connectivity corridors, according to Thailand Prime Minister Prayut Chan-o-chaon during a meeting with Bangladesh Foreign Minister AH Mahmood Ali. The Bangladesh Foreign Minister visited Thailand for two days to inaugurate the Bangabandhu Chair at the Asian Institute of Technology. He held a meeting with the Thai Prime Minister to discuss a range of bilateral cooperation, including shipping, trade, energy, and those under the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC).
The Meeting between the Thai Prime Minister and the Bangladesh Foreign Minister highlighted:
- Potential of Bangladesh to become a "gateway and connectivity hub" between South Asia and Southeast Asia;
- Proposal by Thailand to establish coastal shipping connectivity between Ranong Port in Thailand and Chittagong Port in Bangladesh;
- 33% growth in bilateral trade between the two nations in 2017. They aim to double this trade figure by 2021;
- An offer by Bangladesh to create a dedicated economic zone for Thai investors, and pledge to extend all-out support. Mr. Ali urged Thai investment in
- An offer by the Government of Thailand to work on a framework memorandum of understanding in the energy sector with the Government of Bangladesh;
- Boosting cooperation under the BIMSTEC framework. Foreign Minister Ali reiterated Bangladesh's request for duty-free and quota-free access for 36 products from Bangladesh; and
- Thailand's support for Bangladesh's bid for membership in the Mekong-Ganga Cooperation Forum and the ASEAN Sectoral Partnership.
Foreign Minister Ali thanked Thai Prime Minister Chan-o-chaon for his pledges, and reassured him of Bangladesh Prime Minister Sheikh Hasina's full support in taking Bangladesh-Thailand cooperation on trade, economy, and connectivity to the next level.
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