Connect with us

India

Thailand and India to Enhance Partnership and economic cooperation

India has shown a clear intention to strengthen relations and forge closer cooperation with Thailand during the upcoming visit of Prime Minister Yingluck. Both countries are expected to enhance their strategic partnership, as Foreign Minister Surapong Tovichakchaikul said earlier that Thailand and India should try to give their relations a forward-looking and strategic focus, and build a partnership for the future.

Aishwarya Gupta

Published

on

Both countries signed the Thailand-India Free Trade Agreement Framework on 9 October 2003, covering trade in goods, services, and investment

Since Prime Minister Yingluck Shinawatra will join India’s Republic Day celebrations on 26 January 2012, she will also take this opportunity to pay an official visit to India from January 24 to 26.

Loading...

The visit is at the invitation of Indian Prime Minister Manmohan Singh, whose recent visit to Thailand was made in October 2009 during the Seventh India-ASEAN Summit meeting.

Prime Minister Yingluck will be the third Asian leader to attend the Republic Day celebrations as Chief Guest. The first one was South Korean President Lee Myung-Bak in 2010, and the second was Indonesian President Susilo Bambang Yudhoyono in 2011.

Both countries signed the Thailand-India Free Trade Agreement Framework on 9 October 2003, covering trade in goods, services, and investment

Both countries signed the Thailand-India Free Trade Agreement Framework on 9 October 2003, covering trade in goods, services, and investment

India has shown a clear intention to strengthen relations and forge closer cooperation with Thailand during the upcoming visit of Prime Minister Yingluck. Both countries are expected to enhance their strategic partnership, as Foreign Minister Surapong Tovichakchaikul said earlier that Thailand and India should try to give their relations a forward-looking and strategic focus, and build a partnership for the future.

On the part of Thailand, it has prepared various topics to be discussed with India, such as trade, energy, tourism, and economic cooperation. Water management is another major issue to be raised for discussion.

Thailand and India have enjoyed a close and mutually enriching relationship for a long period. Thailand considers India as an important strategic partner, in addition to being a friend of Thailand. In 1947, Thailand was one of the first countries to establish diplomatic relations with India.

Both countries signed the Thailand-India Free Trade Agreement Framework on 9 October 2003, covering trade in goods, services, and investment, as well as economic cooperation. They began FTA negotiations in 2004 and agreed to start tariff reduction for trade in goods in January 2010.

Since the signing of this FTA, bilateral trade between them has tripled. Foreign Minister Surapong pointed out that both countries should make every effort to conclude the bilateral FTA by the middle of 2012, as well as the BIMSTEC Free Trade Agreement. Thailand and India have also cooperated in the framework of BIMSTEC, which stands for the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation, comprising Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand.

Bilateral trade between Thailand and India expanded from 4.7 billion US dollars in 2007 to 6.7 billion dollars in 2010. Both countries have agreed to double their two-way trade between 2010 and 2014. They have concluded and are implementing bilateral agreements on agriculture, science and technology, ICT, renewable energy, education, and cultural cooperation. Thailand and India will sign the Memorandum of Understanding on Defense Cooperation during the visit of Prime Minister Yingluck to India later this month.

via Inside Thailand — Thailand and India to Enhance Strategic Partnership.

Asean

India, ASEAN Agree to Review FTA Scope, Address Uneven Market Access

Chief among India’s concerns is that Indian exporters have been denied a level playing field in the Southeast Asian market. Moreover, New Delhi believes that China has taken undue advantage of the ASEAN-India FTA (AIFTA) due to weak rules of origin.

Avatar

Published

on

India, ASEAN Agree to Review FTA Scope, Address Uneven Market Access

The 8th East Asia Summit (Economic Ministers’ Meeting) was held virtually on Friday, followed by the 17th ASEAN-India Economic Ministers Consultations on August 29.

Loading...
(more…)

Continue Reading

India

RCEP trade deal hits snag over India’s demand

The 16 Asian and Oceanian countries involved in the regionwide RCEP trade deal have decided to delay the conclusion of that deal until next year.

Olivier Languepin

Published

on

RCEP negotiations hit a snag as India has grown wary of an expected influx of goods from China, with which the South Asian country runs a massive trade deficit.

Loading...
(more…)

Continue Reading

India

Thailand woos Southeast Asian tourists with shopping campaign

The programme called “Give Me Five” is set to increase shopping among tourists from Cambodia, Laos, Myanmar and Vietnam (CLMV) along with Indonesia, Malaysia and India.

Boris Sullivan

Published

on

The Tourism Authority of Thailand (TAT) has launched a new marketing campaign with the hope of luring 200,000 visitors from seven growing markets in Asia.

Loading...
(more…)

Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,063 other subscribers

Latest

Trending