Bangladesh has been suffering from a persistent trade imbalance with Thailand although the total bilateral trade volume has been increasing every year, they noted at a seminar.

The Export Promotion Bureau (EPB) and Bangladesh-Thai Chamber of Commerce and Industry (BTCCI) organised the seminar on 'How to Effectively Export to Thailand' at conference hall of Bangladesh Institute of International and Strategic Studies (BIISS) in Dhaka.

Speaking at the seminar, Altaf Hossain Choudhury, commerce minister, said Bangladesh's trade deficit rose to $215.21 million in 2004-05 from $171.94 million in 2000-01.

The demand for consumer products has increased significantly in Bangladesh due to the initiatives taken by Thai business community in promoting their products, which caused the trade imbalance in favour of Thailand, he mentioned.

He said, "Many new products are not on the duty free list offered by Thailand, but we can pursue the matter with the Thai government to consider these items for duty free access."

Thailand has been able to develop its economy at a steady pace and has now achieved the per capita income at US$8,300, Altaf said, adding that its exports have risen to $105.8 billion from the beginning of this millennium.

Suphat Chitranukroh, Thai ambassador in Dhaka, hoped it will be possible to increase Bangladesh export to Thailand to $150 million in the next two years as efforts are on to improve cargo facility.

He urged Bangladeshi entrepreneurs to establish joint venture projects with the Thai business people.

Dr Surapong Ambhanwong, advisor to Thai Bangladesh Business Council (TBBC), said a bilateral free trade deal may help Bangladesh to increase its export to Thailand.

He urged Bangladeshi entrepreneurs to take special privilege of export quota.

In his keynote presentation, AHM Moazzem Hossain, editor of The Financial Express, said while the operational framework for widening bilateral cooperation between Bangladesh and Thailand does already exist, the result-oriented actions are still awaited.

Mingpant Chaya, president of TBBC, urged Bangladeshi exporters to be more aggressive in the Thai market.

Rashed Maksud Khan, president of BTCCI, said EPB and BTCCI will organise a single country trade fair in Bangkok in October.

He requested local manufacturers and exporters to participate in the fair for pursuing the Thai traders to import in large volume.

EPB Vice-Chairman Mir Shahabuddin Mohammad said Bangladesh is now exporting 72 items in the Thai market and many of them are new.

Bangladesh can be a springboard for Thai entrepreneurs who can invest here and export to other countries, he felt.