Prime Minister and Minister of Finance Srettha Thavisin and H.E. Sheikh Hasina, Prime Minister of People’s Republic of Bangladesh, on April 26 witnessed the signing of the following 5 Agreements and Memorandum of Understaffing:
1) Letter of Intent on Commencement of Thailand – Bangladesh FTA Negotiation between Ministries of Commerce of Thailand and People’s Republic of Bangladesh
2) Agreement on Visa Exemption for Official Passport Holders of the Kingdom of Thailand and People’s Republic of Bangladesh
3) Memorandum of Understanding on Energy Cooperation between Ministry of Energy of the Kingdom of Thailand and Ministry of Power, Energy and Mineral Resources of People’s Republic of Bangladesh
4) Memorandum of Understanding on Tourism Cooperation between Ministry of Tourism and Sports of the Kingdom of Thailand and Ministry of Civil Aviation and Tourism of People’s Republic of Bangladesh
5) Memorandum of Understanding on Cooperation and Mutual Assistance in Customs Matters between Customs Departments of the Kingdom of Thailand and People’s Republic of Bangladesh
The joint press conference was later held, of which Government Spokesperson Chai Wacharonke disclosed gist as follows:
The Prime Minister was deeply honored to warmly welcome the Bangladeshi Prime Minister and the delegation on her first official visit to Thailand. Thailand and Bangladesh share a long-standing friendship since 1972. Given historical and cultural affinities, this visit reaffirms commitment of the two countries to further strengthen bilateral relations through trade and investment, development cooperation, and tourism. Both the Prime Ministers had substantive discussions on many issues of mutual interest, and affirmed commitment to enhance cooperation in various areas for the mutual benefit of the two countries.
On trade, Thailand and Bangladesh welcome bilateral trade volume at 1.2 billion USD, and believe that both sides can do more to expand economic cooperation. Trade and investment facilitation was highlighted during the discussion to increase trade and investment volumes, as well as to create a resilient supply chain. The Thai Prime Minister encouraged the Bangladeshi side to provide investment promotion schemes and ease of doing business measures, which will facilitate and attract more Thai investors.
He was also pleased that Thailand and Bangladesh are committed to working together towards a Free Trade Agreement (FTA), and expressed belief that the Letter of Intent signed today would help to expedite the negotiation process.
According to the Prime Minister, Three important memoranda of understanding and one agreement were also signed today: namely (1) The Agreement on Visa Exemption for Holders of Official Passports will facilitate more travel between Thai and Bangladeshi officials; (2) The MoU on Energy Cooperation will help materialize the two countries’ true potential from energy cooperation; (3) The MoU on Cooperation and Mutual Assistance in Customs Matters will lead to effective border control and anti-smuggling operations and; (4) The MoU on Cooperation in the Field of Tourism will allow the two countries to exchange knowledge, experiences, and best practices in this area.
Both sides also aim to elevate cooperation in agriculture, in particular halal and food processing sectors. Thailand and Bangladesh will collaborate to make use of resources to ensure food security for their peoples.
The two countries also attach importance to the improvement of infrastructure and connectivity. The commencement of direct shipping between Ranong Port and Chittagong Port will enhance maritime connectivity and help bolster economic activities.
On medical tourism, Thailand will continue to provide excellent medical services, at competitive prices for Bangladeshis seeking treatment in Thailand. The two Prime Ministers also discussed the possibility of cooperation in training and capacity building for Bangladeshi medical personnel.
On educational cooperation, Thailand proposed a collaboration on vocational education. The Thai Government is glad to see mutual commitment to foster work-integrated education to develop workforces of both the countries.
According to the Prime Minister, Thailand will host the BIMSTEC Summit later this year; while Bangladesh will become the next BIMSTEC chair. BIMSTEC is a key driver of regional economic growth, and a mechanism to promote closer bonds between the two regions. With a combined total population of 1.8 billion people, there is huge potential for BIMSTEC to achieve much more.
Thailand also appreciates Bangladesh’s role in providing humanitarian assistance for displaced Rohingyas since 2017. Thailand has always given its support towards Bangladesh’s endeavor in order to achieve a sustainable solution to this matter.
Lastly, the Prime Minister, on behalf of the Thai Government, expressed firm commitment to drive cooperation and encourage exchanges in all dimensions, at both government and public levels. He thanked Prime Minister Sheikh Hasina again for making this historic visit. (PRD)
