It is encouraging news that the trade between Thailand and Bangladesh has been growing at an exponential rate nowadays. What’s more encouraging is the fact that Thailand seeks to reach a volume of $2 billion as soon as both Bangladesh and other Southeast Asian countries continue to curb the spread of the pandemic. And with Bangladesh looking into its trade offering and working on diversifying its export, this looks like the perfect opportunity.
Both the countries signed a recent memorandum of understanding (MoU) that makes the maritime connectivity between them easier. Additionally, with Bangladesh’s foray into the electronics market, our export basket that has long since relied on our RMG sector finally appears to be diversifying and modernizing.
Both of these measures are already paying dividends. Compared to previous years, 2021 saw a boost of $300m when it came to the trade between the two countries. And if this is a relationship that can be nurtured and expanded upon, the only direction we can move would be up.
Bangladesh has been doing well in expanding its bilateral relationships, and the business relationships we have been propping up in recent years have been lucrative as well. With our high growth targets, we need to keep expanding and facilitating relationships like this.