Trade Scenario Between Bangladesh and Thailand

Bangladesh and Thailand signed trade agreement on 22 August 1997, MOU on account trade arrangement and formed joint chambers of commerce to promote bilateral trade between the two friendly countries. The main component of the agreement is “The Contracting Parties agree to grant each other most-favoured-nation treatment, with regard to customs duties, taxes, fiscal levies and administrative procedures to which are subject, in their respective territories, the importation, exportation, transportation and distribution of foreign goods”. Thailand and Bangladesh are two important countries in the Asian continent and both countries are doing very good in terms of economic development. Bangladesh has already attained all the criteria to become a developing country. The private sectors of the two countries are working together to materialize complementarities between the two economies. These complementarities are likely to be symbiotic, combining Bangladesh’s thirst for investment and Thailand’s keenness
to expand its markets. The momentum is most strongly felt in the private sectors of the two countries.  Bangladesh and Thailand signed the Agreement on the Establishment of the Joint Commission on Cooperation on 29 January 1982 to further strengthen and promote the close cooperation between the two countries. The Join Commission may hold a meeting once a year alternately in in Thailand and Bangladesh where the delegations of both the countries would be led by the respective Ministers of Foreign Affairs. The Joint Commission is mandated to review the progress of cooperation in all areas of mutual interest, implementation of the agreements signed between the two countries, participation of two countries in regional and international cooperation and to recommend for improvement and enhancement of cooperation.

Export from Bangladesh

Some major export items from Bangladesh to Thailand include other made textile articles, vegetable textile fibers, articles of apparel, products of animal origin, electrical & electronic equipment, fish and crustaceans, etc.

Import from Thailand

Some major import items from Thailand to Bangladesh include cement, cereals, plastics and articles thereof, man-made staple fibers, sugar and sugar confectionary, machinery and mechanical appliances, cotton and cotton fabrics, etc.

The balance of trade position between Bangladesh and Thailand from 2007-2008 to 2019-2020 is shown below (value in million U.S. $):

Year

Export

Import

Balance

2007-2008

14.22

510.44

(-)496.22

2008-2009

22.08

574.39

(-) 552.31

2009-2010

32.57

621.59

(-) 589.02

2010-2011

24.35

885.63

(-) 861.28

2011-2012

42.23

1,215.51

(-)1173.28

2012-2013

86.89

764.47

(-)677.58

2013-2014

39.62

742.24

(-) 702.62

2014-2015

32.76

685.53

(-) 652.77

2015-16

35.15

668.94

(-) 633.79

2016-17

48.57

781.58

(-) 733.01

2017-18

38.14

1,194.24

(-) 1156.10

2018-19

44.07

957.00

(-)  912.93

2019-20

35.46

801.60

(-) 766.14

     Source: EPB/ Bangladesh Bank

Top 20 Exported Item in Thailand for the year 2020-2021:

Sl HS Code Item Name Amount In USD
1 61091000 61091000: T-Shirts, Singlets And Other Vests, Of Cotton, Knitted Or Crocheted 7,685,659.37
2 62034200 62034200: Men'S Or Boys' Bib & Brace Trousers, Breeches, Shorts, Of Cotton 3,638,962.92
3 12074090 12074090: Sesamum Seeds, Nes 3,163,770.95
4 03063390 03063390: Crabs 2,301,970.50
5 62046200 62046200: Women'S Or Girls' Trousers, Breeches, Etc, Of Cotton 1,550,296.86
6 61102000 61102000: JERSEYS, PULLOVERS, CARDIGANS, WAISTCOATS & SIMILAR ART., KNITTED OR CROCHETED OF COT 1,433,768.94
7 03063310 03063310: Crabs 1,176,616.94
8 61046200 61046200: Women'S Or Girls' Trousers, Etc, Of Cotton, Knitted Or Crocheted 1,085,811.35
9 03061700 03061700: Other shrimps and prawns 998,403.05
10 03061400 03061400: Frozen Crabs 564,889.70
11 61044200 61044200: Dresses Of Cotton, Knitted Or Crocheted 516,235.62
12 40169990 40169990: ARTICLES OF VULCANIZED RUBBER,NES EX.RUBBER COT/APRON 396,517.06
13 21069090 21069090: Other food preparations not elsewhere specified or incl.(excl. beverage concentrate) 340,555.18
14 61112000 61112000: Babies' Garments, Etc, Of Cotton, Knitted Or Crocheted 336,139.91
15 53071000 53071000: Single yarn of jute or of other textile bast fibres of 53.03 331,899.61
16 61034200 61034200: Men'S Or Boys' Trousers, Etc, Of Cotton, Knitted Or Crocheted 279,579.04
17 61051000 61051000: Men'S Or Boys' Shirts Of Cotton, Knitted Or Crocheted 261,857.12
18 05119100 05119100: Products Of Fish, Crus.,Mollus.,Other Aquatic, Invet Dead Anim.Of Chapt. 3 236,820.69
19 03072110 03072110: Scallops, Live, Fresh Or Chilled Wrapped/Canned Upto 2.5kg 219,419.96
20 03038990 03038990: Other fish, excluding livers and roes : 218,537.75

Total Export Amount: 39,001,053.91 USD


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