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Thai Commerce Minister Jirapaet meets Kamal Nath

26
Jun '07
Trade between India and Thailand has touched US $ 2 billion in the first 8 months of the financial year 2006-07 (for which data is available), indicating strong growth in bilateral trade relations between the two countries.

At a meeting here between Shri Kamal Nath, Minister of Commerce & Industry and the Commerce Minister of Thailand, Shri Krirk-Krai Jirapaet, both the Ministers expressed satisfaction over the growth in bilateral trade and reiterated their commitment to further intensification of trade and economic relations between the two countries.

Bilateral trade between India and Thailand has shown phenomenal growth over the last 5 years, both the Ministers noted.

Noting that Thailand has emerged as an important investor in India and now ranks as the third largest investor in India from the ASEAN region after Singapore and Malaysia, Shri Kamal Nath also expressed satisfaction over the growth in Thai investment in India and invited Thailand to explore more opportunities for joint ventures between the two countries.

Referring to the India-Thailand FTA, Shri Kamal Nath reiterated the need to simultaneously conclude negotiations so that the Agreement could cover not only Trade in Goods but also Trade in Services and Investment.

A Framework Agreement for India-Thailand Free Trade Agreement were signed in 2003, under which 82 items have been placed under an Early Harvest Scheme effective from 1st September, 2004 by boththe countries. Following this, trade between the two countries both exports and imports have grown significantly.


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