Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
Bangladesh Thai Chamber of Commerce and Industry (BTCCI) signed a Memorandum of Understanding (MoU) with Ranong Chamber of Commerce of Thailand recently (June 13) at Ranong, Thailand, to foster closer cooperation between the members of both associations, according to a press release.
The MOU was signed at an event organised by the Office of Provincial Commercial Affairs of Ranong, bringing together member countries of BIMSTEC and ASEAN networks to foster closer regional trade and connections.
The event was inaugurated by the Governor of Ranong Province Supoj Putikiatkhajon. Mr Shams Mahmud, president of BTCCI and Mrs Jaruwan Kiatkaiboon, president of Ranong Chamber of Commerce signed on behalf of their respective associations. Representatives of the Government of Thailand, Thai Chamber of Commerce, Bangladesh Embassy in Thailand and Thai Bangladesh Business Council (TBBC) were also present.
Both parties of the MOU are expecting to get visible benefits for their respective members to boost up the business between two countries.
Ranong will be soon turn into an important vital link for trade and commerce as work has started to construct a land bridge and set up Special Economic Zone along the land bridge corridor. The Port of Ranong will be an important connectivity for Bangladesh as a direct shipping route from Chittagong Port to there will cut down shipping time to Europe by 10 to 14 days, as ships do not have to go all the way to Singapore. BTCCI is actively working with the Government of Thailand to support the implementation of direct shipping connections, as this will give an advantage for speed to market for Bangladesh products destined for Europe, especially RMG. Also, there is a huge supply of timber, boulders, cement, fruits, rubber, fish etc, which can be sourced by Bangladeshi businesses from Ranong directly. As Ranong is right across the Myanmar border, need trade route between Bangladesh and Myanmar can also be explored, opening a new destination for exports.