ID :
123567
Sat, 05/22/2010 - 12:28
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http://m.oananews.org//node/123567
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Thailand, India move to implement joint FTA in 2010
NONTHABURI, May 22 (TNA) -- Thailand and India, which until now agreed to only 82 items of goods traded under the so-called Early Harvest Scheme (EHS), are speeding up negotiations for other goods left under the free trade area (FTA) agreement between the two countries in a bid to expand bilateral trade, Thai Deputy Commerce Minister Alongkorn Ponlaboot said.
Mr Alongkorn said on returning from a three-day trip to New Delhi beginning Tuesday that he led government officials and private businesspersons and explained to Indian officials and journalists that the political turmoil in Thailand would not affect trade and investment between the two countries.
Both sides were confident that the value of bilateral trade could reach the targeted US$10 billion within 2012, said Mr Alongkorn.
Mr Alongkorn said he had discussed with his Indian counterpart Jyotiraditya M Scindia that only 82 items of goods traded under the Thai-Indian FTA enjoyed trade privileges and the two countries should speed up holding talks on the rest of merchandise within this year. Negotiations should also cover joint investment and service sectors.
He said he had also discussed possible cooperation on the “creative economy”, particularly motion pictures, information technology and software, as India has gained wide experience in the field.
Thailand has invited India to join the World Creative Economic Forum which will be hosted by Thailand this November. Mr Scindia agreed to be a keynote speaker, said Mr Alongkorn.
India also asked Thailand to support its plan to host the first India-ASEAN Business Fair scheduled to be held January 8-11, 2011 in New Delhi.
Combined trade between the two countries last year totaled US$4.95 billion and it is expected that the value could soar to US$10 billion by 2012 without difficulty, he added. (TNA)
Mr Alongkorn said on returning from a three-day trip to New Delhi beginning Tuesday that he led government officials and private businesspersons and explained to Indian officials and journalists that the political turmoil in Thailand would not affect trade and investment between the two countries.
Both sides were confident that the value of bilateral trade could reach the targeted US$10 billion within 2012, said Mr Alongkorn.
Mr Alongkorn said he had discussed with his Indian counterpart Jyotiraditya M Scindia that only 82 items of goods traded under the Thai-Indian FTA enjoyed trade privileges and the two countries should speed up holding talks on the rest of merchandise within this year. Negotiations should also cover joint investment and service sectors.
He said he had also discussed possible cooperation on the “creative economy”, particularly motion pictures, information technology and software, as India has gained wide experience in the field.
Thailand has invited India to join the World Creative Economic Forum which will be hosted by Thailand this November. Mr Scindia agreed to be a keynote speaker, said Mr Alongkorn.
India also asked Thailand to support its plan to host the first India-ASEAN Business Fair scheduled to be held January 8-11, 2011 in New Delhi.
Combined trade between the two countries last year totaled US$4.95 billion and it is expected that the value could soar to US$10 billion by 2012 without difficulty, he added. (TNA)
