Thailand is interested to sign a free trade agreement with Bangladesh to increase bilateral trade. Currently, to many tariff and non-tariff barriers stand in the way of promoting business potentials between the two countries, says Thai trade counselor in Dhaka Khemathat Archawathamrong. He said that high tariffs on Thai products are stifling exports to Bangladesh to the desired level in spite of high demand.
Bangladesh has become a member of the middle-income group this year with its economy growing at 7-8% per annum before the Covid-19 outbreak last year. Citing high tariff and non-tariff barrier (NTB) as bottlenecks in promoting trade, the Thai Minister Counsellor (Commercial) demanded removal of both the predicaments.
Referring to high level meetings between two countries in Bangkok on several occasions, he also said that Thailand has raised the issue of high tariff and has urged Bangladesh to reduce high tariff on Thai products.