Ranong, Chittagong ports sign MoU to launch shorter sea freight route

Thailand’s Ranong Port and Chittagong Port in Bangladesh signed a virtual memorandum of understanding (MoU) on Monday in a bid to enhance cooperation and promote sea freight.

The MoU, which is also backed by the Bangladesh Container Ship Owner’s Association, will offer businesses a shorter and cheaper shipping route.

The agreement will also help strengthen trade and investment under the cooperation framework between countries under the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (Bimstec).

The MoU was also created to mark 50 years of diplomatic ties between Thailand and Bangladesh, which falls on October 5, 2022. The two countries are also discussing a free trade agreement.

Present at the virtual meeting were officials from the Port Authority of Thailand and diplomats from both sides serving as witnesses.