FTAs will double India-Thai bilateral trade to USD 14 bn

Chennai - Speaking at the ''Business Opportunities in Thailand'' Seminar, organised by the India-ASEAN-Sri Lanka Chamber of Commerce and Industry on 13 March, Thailand’s Consul-General in Chennai Mr. Chanchai Charanvatnakit expressed confidence that trade between India and Thailand will reach the goal of $14 billion in three years after the implementation of the ASEAN-India Free Trade Agreement and Thailand-India Free Trade Agreement.

Trade between the two countries will be further facilitated with the establishment of Chennai as the gateway for maritime connectivity between India-ASEAN and Thailand, as the Thai Prime Minister Ms. Yingluck Shinawatra has proposed during her State Visit to India as the Chief Guest of Republic Day celebrations. "This connectivity can save time for your product shipment to ASEAN and China about one or two weeks. Of course, it can save your money too," he commented.

With regard to tourism, the Consul-General remarked that that due to the recent floods of Central Thailand, the number of Indian tourists was below the target of 10 lakh, with around 9.2 lakh people visiting the country in 2011. He was confident, however, that Thailand "will reach that dream (of crossing 10 lakh Indian tourists) this year," he said.

(Source: Economic Times, IBNLive)

Summarized by Priyesh Narain

Economic Section

Royal Thai Embassy

15 March 2012