Maritime connectivity: Bangladesh, Thailand sign deal to facilitate trade
In a major development towards connectivity, Bangladesh and Thailand have signed a deal to facilitate trade by enhancing maritime connectivity between the two countries on the Bay of Bengal.
The Memorandum of Understanding (MoU) was signed between the Port Authority of Thailand (Ranong Port) and the Chittagong Port Authority of Bangladesh on virtual platform on Monday (Dec 20).
Md. Zafar Alam, Member (Admin and Planning), the Chittagong Port authority and Lt. JG. Chamnan Chairith, RTN from the Port authority of Thailand signed the MoU on behalf of their respective authorities, said the Ministry of Foreign Affairs on Tuesday (Dec 21).
The MoU is expected to facilitate trade between Bangladesh and Thailand by enhancing maritime connectivity between the two countries on the Bay of Bengal.
This is part of the greater vision of Bangladesh to enhance greater connectivity with its neighbours including those in BIMSTEC region.
The MoU would encourage the business communities from both sides to further explore trade and investment opportunities.
Additionally, both the port authorities would be benefitted through the exchange of information and cooperation in port management, operations, information technology, communication, port connectivity, coastal shipping, port-related industry and investment promotion.
It is hoped that Coastal shipping, under the MoU, between the Ranong port and the Chattogram port of Bangladesh would immensely contribute to further strengthening bilateral trade through reducing the transportation time and cost for trade between Thailand and Bangladesh.
The signing of the MoU is also expected to further strengthen the existing excellent relations between the two countries.
Secretary, Ministry of Shipping, Ambassador of Bangladesh to Thailand, Director General (South East Asia) of the Ministry of Foreign Affairs and Chairman, Chittagong Port Authority were present from Bangladesh side while Ambassador of the Kingdom of Thailand in Bangladesh, Assistant Director General, Asset Management and Business Development, Port Authority of Thailand were present from Thai side during the virtual signing ceremony.