“The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is one of the closest cooperation frameworks for Thailand, given the countries’ geographic proximity and deep economic, social, cultural, linguistic and religious links.”
“BIMSTEC represents a vast market of around 1.5 billion people, with a combined economy worth more than US$3.5 trillion. It is also a high-growth bloc of emerging economies.”
“According to the Port Authority of Thailand, cooperation between Thailand’s Ranong Port and Bangladesh’s Chittagong Port under the BIMSTEC framework has become a key regional logistics strategy to watch.”
“Ranong Port is located at a strategic point on the Andaman Sea. It can efficiently handle containerised cargo to international standards, linking goods to the Indian Ocean and the Bay of Bengal without passing through the Strait of Malacca—clearly reducing shipping distance and transit time.”
“On the Bangladeshi side, Chittagong Port is the country’s largest port and a core trade gateway. Located on the Karnaphuli River, it handles as much as 90% of Bangladesh’s international trade…”