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Minister seeks Thai investment

Star Business Report
Food Minister Muhammad Abdur Razzaque yesterday urged Thai investors to invest more in Bangladesh and utilise the low infrastructure cost and cheap labour of the country.
“The volume of trade between Bangladesh and Thailand is gradually increasing. Nevertheless, the trade balance continues to remain in favour of Thailand,” Razzaque said.
“So we need to attract more Thai investment to the country,” he added. “In Bangladesh, the costs of infrastructure and labour are lower than in other South Asian countries.”
The minister spoke at the inaugural of a three-day fair, Destination Thailand, at the Thai embassy in Dhaka.
Razzaque asked the local entrepreneurs to expand the export basket to achieve healthy balance in trade between the two countries.
Local entrepreneurs should make best use of the Joint Commission on Cooperation Agreement signed in 1982, and the BIMSTEC, which are the basis of
economic cooperation between the two countries, he said
Bangladesh's exports to Thailand increased 73.66 percent to $42.20 million in 2011 from a
year ago, as demand for fertiliser and pesticide, garments, yarn and fibre, fresh aquatic animals, chilled frozen foods and textile items increased in the Southeast
Asian market.
Thailand exported $1.21 billion worth of goods to Bangladesh in 2011.
Thailand exports rice, polymers, woven fabrics, sugar, yarn, synthetic filament, chemical products, refined fuel, autoparts and paper to Bangladesh.
Thai Ambassador to Bangladesh Madurapochana Ittarong said the main objective of organising the annual event is to improve economic relations and increase trade substantially.
Thai businessmen and local traders are showcasing products and services at 54 stalls grouped into six zones of shopping, education, healthcare, travel, food and recreation at the fair.
The fair is co-organised by the Thai embassy in Dhaka, Thailand Tourism Authority, Thai Airways International and Bangkok Airways.
The fair is open to all from 10am to 8pm, and will end on Saturday.