Economy
Bangladesh, Thailand to Begin FTA Talk Next Month
Bangladesh and Thailand are set to initiate Free Trade Agreement (FTA) discussions in Dhaka next month, with the aim of boosting bilateral trade to $2 billion, announced Thai Ambassador to Bangladesh Makawadee Sumitmor today.
“A high-level Thai trade delegation will visit Bangladesh in the last week of August to hold talks with the Bangladesh delegation, led by State Minister for Commerce Ahasanul Islam Titu,” the ambassador stated at a press conference for a Thai food festival in Dhaka.
The Pan Pacific Sonargaon Dhaka, in collaboration with the Thai Trade Centre and the Embassy of Thailand, will host a four-day Thai Food Festival from July 10-13. The Thailand Trade Show will also take place in its Grand Ballroom, according to a press release.
In response to a question, Ambassador Makawadee Sumitmor revealed that Thailand will send a high-level business delegation to explore business potentials and the investment environment in Bangladesh.
The ambassador highlighted that during her visit to Thailand, Bangladesh Prime Minister Sheikh Hasina invited Thai entrepreneurs and businessmen to invest in promising sectors of Bangladesh. Sumitmor noted that Thai investment in Bangladesh would help reduce the trade gap between the two countries. She also emphasized that trade fairs are an effective way to strengthen bilateral relationships, with 64 exhibitors participating in the upcoming exhibition.
Describing Thailand as one of the most popular tourist destinations globally, Sumitmor mentioned that the number of Bangladeshi visitors to Thailand had returned to pre-pandemic levels, with around 140,000 Bangladeshis traveling to Thailand in 2023. She also noted that Thailand issues approximately 4,000 medical visas to Bangladeshis annually.
Prime Minister Sheikh Hasina visited Thailand from April 24-29 on a bilateral and multilateral mission to enhance relations between the two countries.
Expatriate Bangladeshis sent approximately US$ 2.11 billion in remittances during the first 28 days of September in the fiscal year 2024-25, according to data released by Bangladesh Bank on 29 September.
Of this total, state-owned and specialised banks handled $679.10 million, while private banks received $1.43 billion in remittances.
Chief Adviser to Bangladesh’s interim government, Professor Muhammad Yunus, has vowed to expedite reforms and hold elections swiftly. Yunus, who recently assumed the role after the collapse of Prime Minister Sheikh Hasina’s 15-year administration, expressed his commitment during an interview with Tokyo-based news outlet NHK WORLD in New York on Sunday. He was attending the United Nations General Assembly at the time.
Following mass student-led protests that ended Hasina’s long-standing rule in August, Yunus stepped in as the leader of the caretaker government. Known for founding Grameen Bank, an institution providing microloans to the underprivileged, Yunus, along with the bank, earned the Nobel Peace Prize in 2006 for his efforts in poverty alleviation.
During the interview, Yunus emphasized that the interim government’s primary mission is to implement reforms promptly and ensure elections are held as soon as the groundwork is complete. He underscored the importance of success, stating, “Failure is not something that we can accept.”
Addressing the pivotal role of students in the ousting of the Hasina administration, Yunus acknowledged the sacrifices made by young people, referring to their involvement as part of a “revolution.” He highlighted his intention to engage the younger generation in shaping policy.
Furthermore, Yunus called for continued support from Japan, Bangladesh’s largest donor, during this crucial transition period. He stressed that Japan’s assistance is vital to stabilizing Bangladesh’s economy and fostering a democratic foundation in the nation.
Syeda Rizwana Hasan, the Adviser for Environment, Forests, and Climate Change, announced today that steps will be taken to restrict the use of polythene shopping bags to safeguard future generations.
Starting from October 1, polythene bags will be banned in shopping malls, followed by a ban in kitchen markets from November 1.
“Everyone must take responsibility and stop using polythene voluntarily. Action against polythene producers will begin from November 1,” Rizwana Hasan stated during a seminar.
The Department of Environment (DoE) organized the seminar to raise public awareness about alternatives to banned polythene bags.
Rizwana Hasan highlighted that the restriction on polythene will be executed in phases according to legal provisions, and discussions with shopping centers and store owners are ongoing to ensure a smooth transition.
She also announced plans to make the government secretariat a plastic-free zone by December.
Other speakers at the seminar included Environment Secretary Dr. Farhina Ahmed, DoE Director General Dr. Abdul Hamid, Director Rajinara Begum, President of the Shop Owners Association Muhammad Helal Uddin, and Md. Arifur Rahman Bhuiyan, Assistant Professor of Environmental Science at BUP. They discussed the harmful effects of polythene and the need for alternative products.
Earlier, Rizwana Hasan inaugurated a fair showcasing eco-friendly alternatives to polythene bags and visited 24 stalls. The fair featured products from government and private entrepreneurs, including reusable bags, jute bags, paper bags, and items made from bamboo and cane.
