Thai companies are exploring investment in Bangladesh as both countries seek stronger trade ties, direct shipping links and manufacturing partnerships.
DHAKA, Bangladesh: Thailand has expressed strong interest in expanding bilateral trade and investment with Bangladesh for robust economic growth, young and dynamic work force as well as its fast-growing private sector and growing middle class market.
Addressing the increasing economic partnership between both countries, Thai Trade Center Senior International Trade Specialist Kazi Shakik Bin Ashraf Muhammad said that there is an urgent need to introduce direct shipping services from Ranong Port of Thailand to Chattogram Port of Bangladesh.
He said the maritime connectivity would significantly reduce transportation costs and delivery time while boosting bilateral trade.
He also emphasized increasing exchanges of business delegations and strengthening cooperation in high-potential sectors including textiles and ready-made garments (RMG), power and energy, electrical appliances, food processing, seafood, handicrafts and religious tourism.
Various Thai companies have expressed interest and intentions to invest in Bangladesh through exports and possible production facilities.
Thailand-based engineering and construction company WAYFIT, renowned for its turnkey solutions in water engineering, aquatic facilities and sports infrastructure, is exploring long-term investment opportunities in Bangladesh.
Company owner Mr. Manop said WAYFIT currently exports its products to Bangladesh on an order basis. The company is now working to establish its own distribution network and develop a sustainable local market.
“If we successfully establish our distribution channel and customer base, our next step will be to invest in setting up a manufacturing facility in Bangladesh,” he said.
Thai cosmetics manufacturer Supreme Export, which already exports a significant volume of cosmetic products to Bangladesh, is preparing for direct investment in the country’s fast-growing beauty and personal care industry.
Country Marketing Manager Tanvir Ahmed said the company plans to establish a manufacturing plant in Bangladesh. Initially, the factory will produce skincare cream products before expanding production to more than 50 varieties of beauty and personal care items for the domestic market.
Thai beauty products manufacturer Bio Woman is also looking to strengthen its footprint in Bangladesh by developing a local distribution network.
According to Neeranuch Wongchingchai, an Export Manager, Bangladesh presents great business opportunities due to the growing need for cosmetic and personal products resulting from growing purchasing power of consumers and expanding markets.
Thailand’s PK Group is preparing to introduce its flagship beauty brand Soriko to the Bangladeshi market through local distributors.
Chief Executive Officer Phaokon Thaiprasong said the company intends to supply a wide range of competitively priced beauty products aimed at meeting growing consumer demand while competing effectively in Bangladesh’s expanding cosmetics sector.
He added that the company will initially focus on establishing the Soriko brand before considering broader market expansion.
Growing confidence of Thai companies in the potential of Bangladesh as a manufacturing hub and consumer market is behind the increasing Thai interest in Bangladesh. Enhanced logistics connectivity and cooperation between the two countries will bring in new business opportunities, the business leaders feel.
