B Mirror Report: Bangladesh is exploring joint industrialisation, direct maritime connectivity and a free trade agreement (FTA) with Thailand to reduce its trade deficit, expand access to Southeast Asian markets and attract fresh investment.

Economic and Planning Adviser Rashed Al Mahmud Titumir outlined the plans while speaking to journalists on Monday on the sidelines of the International Monetary Fund (IMF) and World Bank meetings in Bangkok. He had earlier met with business representatives from the Thai Chamber of Commerce.

According to the figures cited in the report, Bangladesh imports goods worth around $1 billion annually from Thailand, while its exports to the country stand at approximately $85 million. This leaves Bangladesh with an annual trade deficit of more than $950 million.

Titumir said narrowing the gap would be difficult through increased imports and exports alone. The government is therefore focusing on joint production, mutual investment and industrialisation to generate employment and integrate Bangladesh into regional supply chains.

During discussions with Thai business representatives, agriculture, agro-processing and halal food production were identified as promising sectors for investment.

The talks particularly focused on using Thai technology to preserve and process seasonal fruits such as mangoes, jackfruits and lychees.

Large quantities of agricultural produce are wasted each year because of inadequate cold storage and modern processing facilities, causing losses for farmers. The government hopes to attract Thai investment to address the problem and expand exports of processed halal food.

Bangladesh and Thailand have also discussed improving direct maritime connectivity between Chattogram Port and Ranong Port to make bilateral trade faster and more cost-effective.

The proposed connection could facilitate the transportation of agricultural products, processed food and industrial raw materials, supporting trade and supply chain efficiency between the two countries.

Bangladesh is also considering the possibility of free trade agreements with Thailand and other Southeast Asian countries to improve market access for Bangladeshi products across the region.

Alongside Thailand, the government is engaging with investors from China and Japan to attract additional investment. Discussions are also under way to expand economic cooperation with Japan’s Toyota and Marubeni Corporation, as well as a US delegation, according to the report.

The adviser emphasised the importance of policy stability, discipline in the financial sector and a business-friendly environment to encourage investment.

He also highlighted a special financing facility offering loans at a negative interest rate of 7% to help reopen closed factories.

The government expects these initiatives to create new employment opportunities, strengthen industrial activity and support Bangladesh’s economic recovery.