Editorial
Thai-Bangla ties on a steadier course
Shinawatra's visit provides impetus
The joint statement signed by prime ministers of Bangladesh and Thailand on Saturday at the conclusion of Yingluck Shinawatra's trip to Dhaka spells out a raft of decisions to take their relationship
forward.
There are specific bilateral, regional and sub-
regional components to the joint statement underlining the growing importance of partnering each other in changing regional and international scenarios. From Dhaka's point of view it's a reflection of its Look East policy. From the Thai side it sees the potential for partnership with a country that is steadily growing despite various constraints. For them it is connecting with a promising South Asian country.
An institutional framework exists between the two countries to enhance and diversify their cooperation in trade and investment. Bangladesh-Thailand joint commission has been assigned the task of making recommendations on specific areas of cooperation with a major focus on connectivity through increased regional cooperation and development of roads and shipping infrastructures. The two leaders acknowledging the important role of Bimstec in strengthening closer ties in South and Southeast Asia areas, one expects a revitalisation of Bimstec as powerful instrument of collective growth.
In specific terms, two memoranda of understanding (MOUs) have been signed to expand bilateral cooperation in agriculture and provide for regular consultation to strengthen friendly relations between the two countries.
Bilaterally, trade is aimed to double by 2016 with a rapid reduction in the trade imbalance. We believe it's a modest objective given that the inter-state trade grew by 65 percent in FY 2010-11 alone compared with the level a year before. There is an unrealised scope to trade in a wider range of products and services.
New areas of cooperation may include infrastructure development, food processing and power generation. That both governments have agreed to explore possibilities of cooperation between their respective oil and gas companies to generate opportunities for exploration and production in Bangladesh augurs well. We also welcome Shinawatra's offer of technical assistance for indepth study for development of tourism and hospitality industry in Bangladesh.
We lend importance to both prime ministers underlining the significance of bilateral institutional arrangement for effective regulation of recruitment and employment processes. Good to know that Thailand will recruit Bangladeshi workers to work in its fishery sectors.
Finally, follow up actions will be key to implementation of the joint statement.
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