Bangladesh can be Thailand’s ‘west gate’ to connect South Asia, Thai business leaders say

Thai officials and business leaders have recognised Bangladesh’s efforts to project the country in Bangkok, and said Dhaka can serve as a ‘west gate’ for Thailand to connect with South Asia.

Bangladesh in the first-ever trade and investment expo in Thailand has tried to present its capabilities as a ‘manufacturing hub’ while seeking a ‘gateway’ to the ASEAN economy.

Chen Namchaisiri, chairman of Federation of Thai Industries, at a panel discussion on Tuesday said the expo gave a “good opportunity” to Thai companies to get to know Bangladesh better.

He acknowledged Bangladesh’s desire, and said Thailand could act as a “bridge” between the 10-country ASEAN and Bangladesh in matters of trade and investment.

“We are ready to serve as a logistic hub,” he said, asking Thailand to recognise Bangladesh in the west to make a link with South Asian countries.

“Bangladesh can serve as a west gate for Thailand to connect with South Asia,” he said.

The objective of the three-day Bangladesh expo, which will end on Wednesday, is to invite Thailand to take a fresh look at the country.

Bangladesh is promoting pharmaceuticals, diversified jute products and ceramics, while seeking investments in the energy, ICT and tourism sectors.

Commerce Minister Tofail Ahmed proposed a special economic zone for Thailand.

Paban Chowdhury, Executive Chairman of the Bangladesh Economic Zones Authority, highlighted the opportunities investors had in Bangladesh and said “if you invest, you can export to big economies like those of Europe and Japan using Bangladesh’s GSP privilege”.

“Your investment is safe and secure,” he said, adding that the low-wage also made Bangladesh “the most competitive production base”.

Chokedee Kaewsang, deputy secretary general of the Thailand Board of Investment, appreciated those opportunities, saying “Bangladesh is even more attractive than Thailand for investors.”

“We are part of the Bay of Bengal community, BIMSTEC. Bangladesh is ideally positioned and can give easy access to many developed countries,” he said.

So far, Thai investors have out money amounting to $605 million in 96 projects in Bangladesh including poultry, fish meal, electronics and power generation.

Charoen Pokphand, commonly known as CP, has invested in Bangladesh's food-processing industry while Italian-Thai Development in the infrastructure sector, including the Dhaka Elevated Expressway.

Kaewsang said there was scope of investment in renewable energy, ICT, textiles and footwear.

“That can give an opportunity to develop friendship between the countries,” he said.

Stanley Kang, President of Joint Foreign Chambers of Commerce of Thailand, said Thailand was looking for partners of doing business for the next 10 years. “I hope Bangladesh will be a major partner”.

He promised to support Bangladesh’s efforts to develop business relations with Thailand.

State Minister for Foreign Affairs Md Shahriar Alam said Bangladesh attaches “special importance to Thailand as a close neighbour and BIMSTEC partner.”