The New Nation - Internet Edition

BUSINESS REPORT

Ambassador of Thailand to Bangladesh Chalermpol Thanchitt yesterday revealed his country's interest to sign a bilateral Free Trade Agreement (FTA) with Bangladesh so that the volume of two-way trade between the two countries increased by US$1 billion within the next five years.

"The Government of Thailand has set a target to double its bilateral trade with Bangladesh within the next five years, which is now hovering around US$500 million annually," he said while addressing a seminar on 'Flying SMEs to Thai Suppliers.'

"If this goes well, we shall eventually achieve something like the long-awaited Elevated Expressway for the free-flow of goods and services," the Ambassador said.

Thai Trade Centre in Dhaka and the Department of Export Promotion of the Ministry of Commerce of Thailand jointly organised the seminar at Dhaka Westin Hotel in the city.

Director of International Business Consulting Center of Thailand Netpreeya Choomchaiyo presented a paper on 'Expand Business Opportunities for SMEs with Thailand International Trade Mart.'

Director of Thai Trade Centre in Dhaka Usa Wijarurn, Chairman of Best Air Haider Uzzaman, Managing Director of Rangs Industries Ltd Rumee Hossain, Business Development Manager of BRAC Bank Ltd Md Ziaul Latif also addressed the seminar.

The Thai Ambassador also expressed the hope that the targets set would be achieved sooner than expected.

"With the current high import tariffs in Bangladesh, I am certain that the idea of signing an FTA will be warmly welcomed by both consumers and distributors alike. And if the Ranong Port of Thailand could be made fully operational, the shipping time to Chittagong Port will go down to only 4 days with much lower costs," he said.

Ambassador Chalermpol said the Thai Embassy in Dhaka is ready to issue long-term multiple business visas for bona-fide businessmen who frequently travel to Thailand for business purposes.

The Thai Embassy is also studying a possibility of taking into consideration the volume of trade with or investment in Thailand for visa issuance in this regard.

The Thai Trade Center in Dhaka has been trying to promote the trade volume between two countries. 'But as public sector, our job is to facilitate. The actual role must be played by the private sector,' the Ambassador also said.

"The significance of small and medium entrepreneurs (SME) cannot be overlooked. Especially in the case of Bangladesh with population of 150 million, I am certain that SMEs could well play their part in creating jobs opportunities and new entrepreneurships, which will eventually lead to the strong middle class group in the country.

Such strong middle class people are highly crucial for both economic and political senses, as they are well educated, less conservative, optimistic about future, and active to take new initiatives," Ambassador Chalermpol said.