Thai enterprises keen on Indian projects
Source: Commerce Ministry – Minister Apiradi Tantraporn wants to accelerate India-Thai FTA.
Thailand has encouraged India to wrap up some parts of their long-awaited comprehensive free-trade agreement (FTA) after protracted negotiations on some topics including the liberalisation of services, while its enterprises are keen on participating in Indian projects.
After her recent meeting with India Ambassador Bhagwant Singh Bishnoi, Commerce Minister Apiradi Tantraporn said on May 17, 2016, that both countries agreed to accelerate the completion of the Thai-India FTA after implementing the Early Harvest Programme back in 2004 covering 82 items, reported The Nation newspaper in Bangkok.
“With disagreement on some topics, Thailand thinks both countries should finalise the agreement in some parts and continue negotiating on the remaining topics,” the Thai daily quoted the Minister as saying.
In the meeting, Thailand has asked New Delhi to solve problems in gold exports into India in regards of rule of origin certification.
Thailand has also shown strong interest in joining the Indian government’s “Make in India”, “Smart Cities” and “Economic Corridor” schemes, according to The Nation.
Many Thai private enterprises would like to join those projects as they see greater businesses opportunities arising amid the strong growth of India’s economy, said the Minister.
Interesting industries for Thais to invest in in India are construction, food, tourism and many service businesses.
India and Thailand have also agreed to support the Asean-India FTA and the negotiation of the Regional Comprehensive Economic Partnership by this year.
India is Thailand’s 15th largest trading partner in the world and No 1 in South Asia, according to the Thai daily.
India-Thai two-way trade has averaged annually US$8.46 billion in the past five years.
Last year, bilateral trade was $7.92 billion, accounting for 1.9 per cent of Thailand’s total trade. fii-news.com
