Thailand PM seeks cooperation in trade and investment

On her maiden visit to India, Thailand Prime Minister Yingluck Shinawatra has sought to expand cooperation in trade and investment between the two countries

Shinawatra said Thailand can be the perfect gateway for Indian businesses into the 600 million strong ASEAN consumer market.

Addressing a joint business meeting organised by leading industry chambers CII, FICCI and ASSOCHAM, Shinawatra said “The trade between the two countries has increased tremendously after India-Thailand free trade agreement.”

The Thailand PM also said that she would work with Indian Prime Minister towards finalizing the Comprehensive Economic Cooperation Agreement (CECA) within this year.

Speaking on the occasion, Minister of Commerce and Industry, Anand Sharma, said, "Time has come for both the countries to look into other areas of engagement like investment and global partnership, apart from trade."

Sharma also called upon Thai companies to invest in India, especially in the Delhi, Mumbai Industrial Corridors, and in other areas of manufacturing and infrastructure.

FICCI president and CMD of Kanoria Chemicals and Industries R V Kanoria, said “Bilateral trade has multiplied six times since 2000 touching USD 7.46 billion in 2011 and the target of USD 10 billion for 2012 can be easily surpassed.

The trade between the two countries is likely to double by 2014.