Thailand-Philippines agree to double bilateral trade

BANGKOK, January 20 (TNA) - Thailand and the Philippines have agreed to boost bilateral trade and investment ties, with two-way trade between the two ASEAN neighbouring countries set to double annually in the coming years, from some 6.9 billion US dollars annually now. Thai Prime Minister Yingluck Shinawatra, who paid a one-day official to the Philippines on Thursday, told reporters after returning to Bangkok that she also expressed Thailand’s interest in exporting more fruits to the Philippines and Philippine President Benigno Aquino III agreed to cooperate by suggesting the setting up of a joint Thai-Philippine working group tasked with boosting bilateral trade in agricultural produce. According to the Thai premier, the Philippine President also told her that Manila is ready to import more rice from Thailand, as agreed by Bangkok and Manila under an earlier concluded memorandum of understanding (MOU). The Thai prime minister acknowledged that other issues on bilateral cooperation, including those in the energy and education sectors, as well as those concerning double taxation avoidance and joint anti-narcotics, will be further discussed at the Fifth Thai-Philippine Joint Commission on Bilateral Cooperation (JCBC), to be host by the Philippines in March 2012. (TNA)