Bangladesh-Thailand in Multi-Billion Trade Boom?

 10 Feb 2016 09.36am

An agreement established between Thailand and Bangladesh to create direct coastal shipping routes between both countries could result in annual trade volumes quadrupling to a total cost of US$4.8 billion, and is anticipated to cut sailing times down to six days from a prior length of two weeks via Singapore, according to Reuters.

Rashed Maksud Khan, President of the Bangladesh-Thai Chamber of Commerce and industries, said: "The annual trade volume of Bangladesh and Thailand will be increased four times to $4.8 billion by [the] next five years if both countries can establish direct coastal shipping links by the end of the year.”

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Prajak Sriwatthana of the Thai Port Authority, said: "Once a direct coastal sipping link will be established between Chittagong and Ranong of Thailand, then it will take only six days.”

It was previously reported that Bangaldesh may drop an $8 billion port project in favour of another port project in Matarbari.

Matarbari was said to be extremely important because of its connection with China’s ‘One Belt, One Road’ project.

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