The issue was discussed at the fifth Joint Trade Committee (JTC) meeting between Thailand and Bangladesh in Bangkok on January 8, 2020. The sixth JTC meeting between the two countries is supposed to be held in Dhaka this month.

But the Thai authority concerned informed Dhaka that it would take time, as the scheme had involvement of 46 countries. Thailand also suggested signing a bilateral free trade agreement (FTA) for a quick solution in this connection.

Bilateral trade between Bangladesh and Thailand dropped to $910.05 million in 2020 from $1,067.90 million in 2019.

In 2019, Bangladesh utilised benefits of the DFQF scheme to the tune of $541,000. In 2019, the volume of Thailand's exports to Bangladesh amounted to $987.16 million, while that of Bangladesh to Thailand was $80.74 million, according to Bangla media reports.

Bangladesh exports products like knitwear, household articles, sewing thread, and jute rope and bags to Thailand.

Bangladesh would graduate from the least-developed country (LDC) status in 2026.

Fibre2Fashion News Desk (DS)