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Bangladesh has signed a memorandum of understanding (MoU) with Thailand to import up to 10 lakh metric tons of rice each year till 2026 under government-to-government (G2G) level, reports BSS.

Food minister Sadhan Chandra Majumder on behalf of Bangladesh and Thai Commerce minister Urin Laksana Wist on behalf of Thailand signed the MoU through virtual platform on Tuesday.

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According to the MoU, Bangladesh will be able to import a maximum of 10 lakh metric tons of rice from Thailand every year till 2026 as per the requirement.

The rice price will be fixed after negotiations between the two countries, considering the international market price every year. Both the countries can extend the term of the MoU if needed.

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