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FTA with India to boost trade

06
Apr '07
If the ASEAN-India FTA fails to reach an agreement, Thailand has agreed to extend FTA with India.

ASEAN-India FTA is expected to commence final round of talks in July. The two parties have been discussing this deal for past four years.

Meanwhile, Thailand is working to strike a bilateral FTA deal with India and both countries have already signed framework for this agreement in 2004.

However, Thai Director General of the Trade Negotiations Department, Chutima Bunyapraphasara, explained that the conclusion of this deal will depend on whether or not ASEAN-India FTA is finalized.

Commerce Minister Krirkkrai Jirapaet is expected to tour India from April 10 to 13, alongwith 30 other major traders and will meet his Indian counterpart Kamal Nath and executives from leading companies.

Since signing the agreement on FTA framework with India, trade volumes of Thailand and India have reached US $3.4 billion.


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