Thai PM welcomes Indian investors in Thailand
Indian Prime Minister completed his first bilateral trip to Bangkok on 31 May 2013. During the visit, he met with Yingluck Shinawatra, Thai Prime Minister, and got reconfirmation from the Thai leader that Thailand always welcomes trade and investment from India.
At the plenary high-level talk on 30 May, the two Prime Ministers exchanges views on a wide range of issues. But the most discussed of all was on trade and investment between the two countries. Despite the growing trade figure, USD 8.6 billion at end of 2012, and investment flows, the two sides agreed to push for more rigorous economic ties.
Among the measures that have been announced include the setting up of the Thailand-India Business Forum, which brings together CEOs of important firms active in each other's countries to resolve business issues as well as create better atmosphere for cooperation.
High-level talk between Prime Ministers of Thailand and India at Thai Government House on 30 May 2013
Indian businessmen and investors were also delighted to hear the news that both sides will put in place fast track visa system to guarantee that Indian businesspeople who would like to travel to Thailand and vice versa will face less cumbersome visa processes. Moreover, both sides are determined to conclude social security agreement by this year to help workers from both countries benefit from their national social security system.
The Thai Prime Minister also invited Indian investors to take part in the upcoming USD68 billion infrastructure projects in Thailand and will soon form a delegation with Myanmar for a roadshow in India on investment opportunities in Dawei special economic zone in Myanmar. The Indian side proposed that Thai private sector participated in the Delhi-Mumbai and Chennai-Bangalore Economic Corridors and the development of Buddhist circuit and the Northeast.
On the issue of pending FTA on trade and services, the two leaders showed commitment to conclude the agreement to bring about more trade and investment between the two countries. They have advised their Commerce Ministers to see to the matter and try to conclude it by year-end.
Signing ceremony of 7 bilateral agreements
Also to boost trade ties is the progress on the trilateral highway between Thailand, Myanmar and India to link India with South East Asia. Both leaders agreed to push for a completion of the transboundary roads by 2016. Thailand also proposed to host a ministerial meeting to set directions to achieve the goal.
Both sides are hopeful for more air connectivity between Thailand and India. At present, there are more than 150 flights weekly between the two countries. THAI Smile, subsidiary of Thai Airways, just recently opened new routes Bangkok-Ahmedabad, Phuket-Mumbai, and Phuket-Delhi, giving an encouraging sighs to the two Prime Ministers.
The leaders also witnessed the signing of total 7 agreements between relevant authorities of the two countries. These agreements include extradition treaty, MoU to set up Thailand-India Exchange Programme, MoU on academic cooperation in geospatial mapping, and MoU of anti-money laundering.
(For more details, please visit www.thaiemb.org.in)
Praphan Samphaiworakit
Reports from New Delhi
4 June 2013
