Thailand, Bangladesh to hold trade talks

NONTHABURI, Aug 9 (TNA) – Thailand and Bangladesh will expand their trade cooperation at the fourth Joint Trade Committee (JTC) meeting, scheduled in Dhaka tomorrow. Commerce Minister Apiradi Tantraporn will lead her team to attend the meeting to resume trade expansion and economic cooperation with Bangladesh, years after the latest meeting was hosted by Thailand in 2013. Bangladesh has about 160 million people and is developing from the low income country to the middle income country, the minister said adding that there are opportunities for Thailand to invest in the food industry, agricultural machinery and construction materials. Both countries will also raise the issue of the free trade agreement during the talks as they expect bilateral trade to double to US 2 billion in the next four year from US 1 billion in 2016. The two countries will also sign an Memorandum of Understanding (MOU ) on the Government to Government rice trade deal to export Thai rice to Bangladesh for a maximum of one million tonnes per year. Bangladesh is Thailand’s third trade partner in the South Asia. In 2016, bilateral trade valued at US$ one billion, up 10.38 per cent from the previous year. Bangladesh had a trade deficit with Thailand with Thailand exports to Bangladesh, worth US$940 million and Thai imports from Bangladesh worth US$56 million in 2016. (TNA)