FM Hasan urges Thai private sector to invest in Bangladesh

He also emphasized on the importance of early commencement of the Free TradeAgreement (FTA) between Bangladesh and Thailand for enhancing bilateral tradeand balancing trade deficit. The foreign minister was speaking at a business meeting, organised byBangladesh Embassy in Bangkok on Friday on the sidelines of the officialvisit of Minister Sheikh Hasina to Thailand, a foreign ministry's pressrelease said here today.
Earlier on the day, Bangladesh and Thailand have signed a Letter of Intent(LoI) to commence Free Trade Agreement (FTA) between the two countries, reports BSS.
During the business meeting, Hasan underlined the potential for trade andinvestment between Bangladesh and Thailand and said it will ultimatelycontribute to the overall development and prosperity of both the countries. The foreign minister highlighted Thailand's significance as a key tradepartner for Bangladesh within the ASEAN region. He also described Bangladesh's remarkable progress in all indicators ofsocio-economic development over the last 15 years and Bangladesh's successfulgraduation from Least Developed Country (LDC) status, attributing it to thevisionary leadership of Prime Minister Sheikh Hasina.
Hasan also stressed upon the importance of fostering increased people-to-people contact as a means to strengthen the bonds between Bangladesh andThailand.
By prioritizing such exchanges, both countries can deepen theirunderstanding, collaboration, and partnership and benefit their people, heobserved.
Finance Minister Abul Hassan Mahmood, Prime Minister's Private Industry andInvestment Advisor Salman Fazlur Rahman, Home Affairs Minister AsaduzzamanKhan, State Minister of Commerce Ahasanul Islam Titu, and Foreign SecretaryMasud bin Momen attended the event.
Salman Rahman elaborated on the incentives provided by the Bangladeshgovernment to foreign investors.
He invited Thai investment in Bangladesh's Tourism sector and opined thatDhaka might be benefitted from Technology Transfer of the Thai government.
Stating the recently enacted Offshore Banking Act 2024 by BangladeshGovernment, State Minister of Commerce called upon Thai investors to considerinvestment in Bangladesh.
As a bridge between South Asia and South East Asia, he said, Bangladesh couldbe considered for investment as a regional hub and for its reasonable size ofmarket. He urged private sectors of Bangladesh and Thailand to explore allopportunities while assuring required facilitation from the Government. Senior Executive Vice-President of Sutec Co Ltd Charles Frederick, aprominent Thai global sugar engineering company, in his deliberationssuggested that Bangladesh government may explore the potential forcollaboration with local private investors to revitalize one or two existingsugar mills. He noted that if this initiative proves successful, it could pave the way forthe government to develop a policy framework aimed at promoting privateinvestment in the sugar cane industry.
A representative of BIDA delivered a detailed presentation on the incentivesprovided by the Bangladesh government for foreign investors investing inBangladesh.
He highlighted Agro-business, Digital economy, Logistics and LightManufacturing sectors which Thai investors may consider for investment.
Ever since the establishment of Diplomatic relations, the bilateral relationsbetween the countries have flourished to a comprehensive partnershipcomprising cooperation in trade and investment, culture, education, health,agriculture and connectivity. The event was attended by prominent Business personnel from the Thai businesscommunity.
Bangladesh Ambassador to Thailand Abdul Hye thanked all the dignitaries andguests for their presence at the event.
Ambassador of Thailand to Bangladesh Makawadi Sumitmor was also present.