Bangladesh, Thailand ink MoU to accelerate trade

Bangladesh Foreign Trade Institute (BFTI) and Thailand's International Institute for Trade and Development (ITD) have signed a Memorandum of Understanding (MoU) to strengthen mutual cooperation in trade and development sectors between the two countries.

Faiyaz Murshid Kazi, Bangladesh Ambassador to Thailand and Permanent Representative to UN ESCAP, and Suphakit Charoenkul, Executive Director of ITD, signed the MoU on behalf of their respective sides at a function in Bangkok on Thursday, said a press release.

According to the terms of the agreement, BFTI and ITD will jointly collaborate in key areas including education, research, training, human resource development, and policy analysis.
Their shared activities will involve organizing research programs, seminars, workshops, and training sessions, as well as exchanging academic and policy knowledge.

Faiyaz Murshid Kazi expressed hope that this cooperation will help accelerate the joint feasibility study for the proposed Free Trade Agreement (FTA) between the two countries.

He also proposed organizing a review seminar that would involve relevant business representatives and stakeholders.
Dr. Saif Uddin Ahmed, Acting Chief Executive Officer (CEO) of BFTI, who attended the signing ceremony virtually, highlighted the significance of the partnership.

Dr. Ahmed noted that Bangladesh has already achieved significant progress in trade expansion and diversification.

He said this collaboration is especially significant for enhancing the country's commercial and institutional capacity as it prepares to transitional away from its Least Developed Country (LDC) status.

Dr. Ahmed further remarked that the MoU is expected to create new opportunities for both institutions in areas like knowledge exchange, joint research, training, and innovative activities.

He believed this will bring benefits not only to the two signatory nations but also to the entire Asia-Pacific region.
Suphakit Charoenkul outlined the goal of establishing closer cooperation in future activities spanning trade, investment, skill development, and policy research. �"BSS