Dhaka to seek duty waiver for jute products from Bangkok

Dhaka,  Monday,   2016-09-19
Published : 19 Sep 2016, 21:07:45

Dhaka to seek duty waiver for jute products from Bangkok

Jt trade meeting
Talha Bin Habib

Bangladesh will seek trade privileges duty-waiver facility for its jute and jute products from Thailand in the upcoming joint trade meeting, officials said.

The 4th Bangladesh (BD)-Thailand Joint Trade Committee (JTC) meeting will be held next month in Dhaka.

The two-day BD-Thailand JTC meeting will start from October 26 when the bilateral trade issues will be reviewed.

Commerce Minister Tofail Ahmed will lead the Bangladesh side.

"We will discuss the implementation of decisions taken in the third JTC meeting. We will seek trade privileges, including duty waiver for jute products from Thailand during the meeting," senior secretary of the ministry of commerce (MoC) Hedayetullah Al Mamoon told the FE.

The third BD-Thailand JTC meeting was held in Bangkok, Thailand from 15-16 May in 2013.

Earlier, the ministry of jute and textiles had sent a proposal to the ministry of commerce to include jute and jute products in a product list that will be sent to Thailand, seeking duty-free and quota-free facility in that country.

Bangladesh considers Thailand to be an important trading partner in South and Southeast Asian nations.

Considering the geographic proximity with Bangladesh, Thailand is looking to strengthen its relations with Bangladesh as part of its "look west policy''.

Thailand announced duty-free and quota-free (DFQF) access of 6,998 products to the Least-Developed Countries (LDCs), including Bangladesh.

It will also propose to hold regular trade fairs and exhibition of goods and services in each other's capital to promote bilateral trade and investment and continuation of Bangladesh's MFN (Most Favoured Nation) status with Thailand.

He said that Bangladesh will also press for greater road, marine and air connectivity, especially connecting the Ranong port in Thailand with Chittagong port in Bangladesh.

Regular exchange and dialogue between the governments and businessmen of the two countries will also come up in the upcoming JTC meeting.

Bangladesh will offer dedicated special economic zone for Thai investors, according to the ministry officials.

Apart from Thai government officials, a good number of Thai businessmen are also expected to visit the country.

Bangladesh held the first-ever Single Country Trade Fair and Business Summit in Bangkok in May this year.

The Deputy Prime Minister of Thailand Dr Somkid Jatusripitak said that his country will give a fresh look at Bangladesh in the areas of trade, investment and tourism in Bangkok.

He made the remarks when Bangladesh Ambassador to Thailand Saida Muna Tasneem briefed him about the outcome of the first Bangladesh Trade and Investment Expo held in Bangkok from May 30 to June 1.

Bilateral trade between Bangladesh and Thailand is tilted in favour of Thailand.  

Bangladesh exports frozen food, agri-products, chemical products, jute and jute goods to Thailand and imports wood and articles of wood, wood charcoal stones, precious metal, plaster, cement, asbestos, machinery and mechanical appliances; electrical equipment and sound recorders etc.

Bangladesh exported goods worth US $ 94.39 million to Thailand, while imported goods worth $ 1087 million during the fiscal year (FY) 2012-13.

Editor : A.H.M Moazzem Hossain
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