They want to double bilateral trade by 2016
Prime
Minister Sheikh Hasina shakes hand with her Thai counterpart Yingluck
Shinawatra at the Prime Minister's Office in Dhaka on Saturday.
Bangladesh
and Thailand on Saturday agreed to increase mutual cooperation in some
specific areas envisaging to doubling the bilateral trade by 2016.
Prime
Minister Sheikh Hasina and her Thai counterpart Yingluck Shinawatra
acknowledged the importance of enhancing connectivity between the two
nations through increased regional cooperation and developing roads and
shipping infrastructures linking Bangladesh and Thailand.
The
two premiers en-tasked the Bangladesh-Thailand Joint Commission to
discuss and make recommendations on specific areas of cooperation with a
major focus on connectivity, according to a joint statement signed on
Saturday on the occasion of the Thai premier’s visit to
Bangladesh.
The
two sides recognised that the region is being increasingly used by
criminals for arms, drugs and human trafficking. The two leaders
expressed concern about the serious challenge posed by the threats of
terrorism and condemned it in all its forms and manifestations.
The
two prime ministers noted with satisfaction that bilateral trade has
increased by over 65 percent in the last year (FY 2009-10 to FY 2010-11)
and has crossed the US$ 1 billion mark in 2011.
The Thai
side welcomed a proposal for extending the Memorandum of Understanding
for further three years until 2016 under which Bangladesh agrees to
purchase up to one million tonnes of Thai parboiled rice a year as and
when need.
Hasina and Shinawatra agreed that there is
potential to set up either fully owned or joint venture
industries/projects in Bangladesh.
The Bangladesh prime
minister invited the Thai private sector to invest in infrastructure
development, food processing and power generation sectors.
Besides,
the two sides agreed to explore the possibilities of cooperation
between their respective oil and gas companies in Exploration and
Production (E&P) opportunities in Bangladesh.
Both
sides agreed to facilitate increased trade of each other's products and
services. The two sides also agreed that efforts should be made to
reduce the existing trade imbalance between the two countries.
The Thai prime minister welcomed Bangladesh’s plan to hold a Single Country Fair in Thailand in 2013.
Both
the prime ministers also agreed to establish a Joint Working Group to
enhance and strengthen cooperation in health services and related areas,
such as investment in hospitals in Bangladesh and medical tourism in
Thailand.
The Bangladesh prime minister invited the Thai
business leaders to develop and set up industrial estates in the
‘Special Economic Zones’ in Bangladesh.
The Bangladesh
side noted with appreciation the decision of the Thai side to recruit
workers from Bangladesh to work in the fisheries sector of Thailand.
The
two premiers underscored the need for having a bilateral institutional
arrangement for effective regulation of the recruitment and employment
process.
It was agreed that Thailand would provide
Technical Assistance to conduct an in-depth study for the development of
the tourism sector in Bangladesh. It was also agreed that Thailand
would actively consider investment opportunities in the tourism and
hospitality industry in Bangladesh, specifically to develop eco-friendly
and Buddhist-circuit tourism.
They agreed to revitalise
the existing Thai-Bangladesh Joint Trade Committee as a mechanism to
enhance bilateral trade and investment.
It was also agreed that the next meeting of the Joint Trade Committee will be convened in the first quarter of 2013.
The
Thai prime minister shared the view that Ranong Port of Thailand with
expanded capacity could be a new gateway to accommodate trade expansion
between Bangladesh and Thailand.
Hasina and Shinawatra
agreed to deepen cultural ties through cultural exchanges in building a
greater understanding between the people of the two countries.
The
two sides expressed satisfaction at the ongoing technical cooperation
programmes which are the important aspects of their bilateral relations.
The two sides noted with satisfaction the level of
defense cooperation between the two countries and acknowledged that
expanding cooperation would be mutually beneficial in addressing shared
challenges and concerns.
Both sides voiced satisfaction at
the ongoing cooperation on combined/joint exercise. In this connection,
Thailand highly appreciated Bangladesh’s active continued participation
in the Cobra Gold Exercise as part of the Multinational Planning
Augmentation Team (MPAT).
Both sides also agreed to further elevate the defense cooperation to a higher plane.
The
prime ministers welcomed the ongoing cooperation under various regional
bodies and expressed their resolve to further enhance their partnership
and cooperation in the context of Bimstec, ARF and ACD.
Both
prime ministers supported the formation of the Asean Community by 2015
as an important step towards greater integration and prosperity in
Southeast Asia.
Thailand’s active role in and contribution to Asean’s ongoing community building efforts were recognised by Bangladesh.
The
Thai side said Bangladesh’s interest and will give favourable
consideration to Bangladesh to join the East-West Economic Corridor
(EWEC) and Mekong-Ganges Cooperation.
The two leaders
acknowledged the important role of Bimstec in strengthening closer
cooperation in South and South-East Asia. The prime ministers reiterated
their firm commitment to promote closer engagement for mutual benefits
of the Bimstec Member Countries.
In this context, the Thai prime minister welcomed the establishment of the Bimstec Permanent Secretariat in Dhaka.
Both sides viewed it as a positive development in providing institutional support to the issues of common regional interest.
The
two leaders highlighted the importance of the Bimstec FTA and urged for
an early completion of the negotiations on the Agreement on Trade in
Goods.
The two sides agreed to enhance cooperation in the
United Nations and in other international forums on issues of mutual
interest.
The prime minister of Thailand and the prime
minister of Bangladesh will carefully consider each other’s candidatures
for non-permanent seats in the UN Security Council and each other’s
candidatures for the membership of the UN Human Rights Council.
The
two prime ministers thanked each other for supporting each other’s
candidatures to the UPU Postal Operations Council (POC) and the Council
of Administration (CA) for 2013 - 2016.
Prime Minister
Yingluck Shinawatra extended an invitation to Prime Minister Sheikh
Hasina to visit Thailand at a mutually convenient time.
The
prime minister accepted the invitation. It was agreed that the dates of
the visit would be finalised through diplomatic channels.