Bangladesh envoy expects US$5 billion bilateral trade if FTA signed

Thailand and Bangladesh’s trade volume is expected to reach US$5bn, should both countries sign a free trade agreement, said the Ambassador of Bangladesh to Thailand, H.E. Faiyaz Murshid Kazi.

The ambassador emphasised the need for an FTA, after paying a courtesy call on Thai Commerce Minister, Pichai Naripthaphan, who agreed that both countries should begin FTA negotiations.

Ambassador of Bangladesh to Thailand, Faiyaz Murshid Kazi (L), and Thai Commerce Minister, Pichai Naripthaphan (R)

“I told the minister that both sides should expedite preparations before formal negotiations begin. Hopefully, we might see a fast-tracked process to increase bilateral trade, when Minister Pichai meets his Bangladeshi counterpart before the end of this year,” the ambassador said.

Bangladesh is Thailand’s second-largest trading partner in South Asia, with bilateral trade exceeding US$1.13bn in 2024. With the completion of an FTA, he said the potential is to increase trade to about US$5bn.

In addition to trade, Kazi told Thai PBS World that Thailand and Bangladesh could collaborate in the education sector, particularly in engaging youth, to enhance the quality in both countries.

He noted that education was a key topic raised by Dr. Muhammad Yunus, chief advisor to Bangladesh, during his visit to Thailand in April and stressed that education plays a critical role in addressing various issues in Bangladesh, noting that an increasing number of Bangladeshi students are choosing to study in Thailand.

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Dr. Muhammad Yunus, chief advisor to Bangladesh (L), Paetongtarn Shinawatra, prime minister of Thailand (R)

“We believe it is our young generation who will advance the three priorities, of zero wealth concentration, zero unemployment and zero carbon emissions. We expect Thai youth will join this initiative in the interests of our shared humanity,” he said.

He also highlighted the regular flow of Bangladeshi students to universities in Thailand, adding that “for example, some of our Buddhist students study international religious studies at Maha Chulalongkorn University in Bangkok.”

Given its strategic location, the ambassador hopes that Bangladesh can be connected to ASEAN through Thailand. Becoming a full member of ASEAN is Bangladesh’s ultimate goal, with the ambassador underscoring the country’s historical and cultural ties to the bloc.

To strengthen regional cooperation further, he noted that Bangladesh aims to establish a shipping route between Chattogram, a major port city in Bangladesh, and Thailand’s Ranong province. He also pointed to the potential of a highway connecting Bangladesh to Myanmar and Thailand, provided that stability in Myanmar can be ensured.

By Franc Han Shih, Thai PBS World