Pakistani textiles could boost market share in Thailand

16 May '16

3 min read

Thailand's Ambassador to Pakistan, Suchart Leingsaengthong is hopeful that a Free Trade Agreement (FTA) between the two countries would be finalized by the end of 2016. He said the FTA would boost trade, and particularly help Pakistan's textiles sector because of large demand for Pakistani textile products in Thailand.

He said given the size of Pakistan's economy, Thailand considered it a promising country for business relations. He assured that that the Thai Embassy would facilitate businessmen in improving trade volume between the two countries.

His comments came when a delegation of Islamabad Chamber of Commerce and Industry (ICCI) led by its President Atif Ikram Sheikh recently called on him to discuss various options to enhance trade relations between Pakistan and Thailand, the trade body said in a press release.

Leingsaengthong told the ICCI delegation that Thailand considered Pakistan an important country for strengthening economic cooperation as both countries have great potential to offer a lot to each other. He said the current volume of bilateral trade between Pakistan and Thailand was around 1 billion dollars and added that there existed good scope to increase it to $ 2 billion by improving connectivity between their private sectors.

ICCI President Atif Ikram Sheikh stressed upon the need of strong linkages between the private sectors of both countries to increase trade volume. He said that the exchange trade delegations and holding single country exhibitions on reciprocal basis was the best way for promoting bilateral trade between Pakistan and Thailand. He said many Pakistani products including textiles and readymade garments could find good market in Thailand and it should focus on importing these products from Pakistan, according to the press release.

He said close cooperation between Pakistan and Thailand would be a win-win situation for both countries as they could facilitate each other in getting better market access in their respective regions. Pakistan could facilitate Thailand in promoting trade with South and Central Asian countries whereas Thailand could help Pakistan in accessing to the ASEAN region.

Sheikh stressed that governments of both countries should work together to provide leading role to private sectors for improving bilateral trade. He assured that ICCI would like to work with the Thai embassy for bringing both countries even closer in trade and economic relations. (SH)

Fibre2Fashion News Desk – India

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