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 2022-2023 is shown below:
Export and Import Statistics ( Value in milliom US$)
Fiscal 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 |
2020-21 |
39.00 |
765.40 |
(-) 726.4 |
2021-22 |
44.05 |
1053.00 |
(-) 1008.95 |
2022-23 |
71.71 |
|
|
2023-24 |
63.83 |
871.5 |
-807.67 |
Source: EPB/ Bangladesh Bank
Top 20 Exported Item in Thailand for the year 2023-2024:
Sl | HS Code | Item Name | Amount In USD |
1 | 61091000 | 61091000: T-Shirts, Singlets And Other Vests, Of Cotton, Knitted Or Crocheted | 10,236,528.85 |
2 | 62034200 | 62034200: Men'S Or Boys' Bib & Brace Trousers, Breeches, Shorts, Of Cotton | 7,077,042.18 |
3 | 26201900 | 26201900: Ash And Residues Containing Mainly Zinc (Excl. Hard Zinc Spelter) | 4,186,968.88 |
4 | 28141000 | 28141000: Anhydrous Ammonia | 3,244,471.80 |
5 | 62046200 | 62046200: Women'S Or Girls' Trousers, Breeches, Etc, Of Cotton | 2,894,497.22 |
6 | 30039091 | 30039091: Other Anti-Malaria,Anti-Tb,A.-Leprosy Cardiovascular & A.-Hepatic Encep... | 2,010,558.17 |
7 | 61102000 | 61102000: JERSEYS, PULLOVERS, CARDIGANS, WAISTCOATS & SIMILAR ART., KNITTED OR CROCHETED OF COT | 1,855,926.00 |
8 | 03063310 | 03063310: Crabs | 1,825,951.93 |
9 | 03072110 | 03072110: Scallops, Live, Fresh Or Chilled Wrapped/Canned Upto 2.5kg | 1,739,550.11 |
10 | 30049091 | 30049091: Antimalaria, antiTB, anticancer, ... Kidney dialysis solution; Drugs for thalassaemia | 1,555,266.40 |
11 | 61046200 | 61046200: Women'S Or Girls' Trousers, Etc, Of Cotton, Knitted Or Crocheted | 1,311,145.77 |
12 | 62052000 | 62052000: Men'S Or Boys' Shirts Of Cotton | 1,265,435.81 |
13 | 90183918 | 90183918: | 1,060,911.58 |
14 | 76020000 | 76020000: Aluminium Waste And Scrap | 992,119.00 |
15 | 63079000 | 63079000: Made Up Articles (Incl. Dress Patterns), Nes | 978,378.60 |
16 | 63051000 | 63051000: Sacks And Bags, Used For Packing Goods, Of Jute, Etc | 881,695.77 |
17 | 90021900 | 90021900: Mounted Objective Lenses, Of Any Material, Nes | 835,913.24 |
18 | 21069090 | 21069090: Other food preparations not elsewhere specified or incl.(excl. beverage concentrate) | 762,493.37 |
19 | 23099090 | 23099090: OTH..Preparations of a kind used in animal feeding. ,nes | 756,566.40 |
20 | 12074090 | 12074090: Sesamum Seeds, Nes | 754,881.50 |
Total Export Amount: 63,837,442 USD