The Hindu Business Line : Thailand for more pvt sector consultations for trade sops

Growth areas
Food processing and tourism are two major areas in which both the nations can collaborate in a big way for mutual benefit.
India could attract Thai tourists in a big way, just as Bangkok is now a major holiday destination for Indian tourists.

Kolkata , Aug. 23

In the context of the FTA (Free Trade Agreement) negotiations with Thailand, chemicals, textiles, iron and steel items and auto parts are some of the items in the negative list of India over which further private sector consultations on both sides are felt necessary.

The number of items outside the scope of FTA has not yet been finalised. Only some 82 items are now covered under concessional tariff system.

Participating in an interactive session organised by the Bengal National Chamber of Commerce and Industry (BNCCI) here on Tuesday, Mr Thawatchai Sophastienphong, Inspector-General, Ministry of Commerce, Royal Thai Government, said there was need for a step-by-step approach.

Leading a five-member Thai Government delegation, Mr Thawatchai was in the city on a scouting mission for enhancing bilateral trade ties between the two countries. He said his Government was now in the process of creating greater awareness among Thai businessmen on emerging business opportunities in India.

Joint tour package

Suggesting the need to create an India Hub, he said for identifying more number of items eligible for trade concessions, the Indian Government too must educate its private sector through deeper consultations while compiling the FTA negative list.

Mr Thawatchai identified food processing and tourism as two major areas in which both the nations can collaborate in a big way for mutual benefit. Seeking joint ventures in infrastructure development, he said participation in trade exhibitions and buyer-seller meets was one way of creating awareness among businessmen on both sides.

Seeking a joint tour package, he said India could attract Thai tourists in a big way, just as Bangkok is now a major holiday destination for Indian tourists. He felt the successful Indian businessmen in Thailand too could be involved in expanding business prospects with India.

He also suggested the joint venture route for sorting out problems with regard to entry of fishing in Indian waters.

Welcoming the delegation, Mr M. Nayantara Palchoudhuri, President of BNCCI, said Indian investments in Thailand were mainly in areas relatively high-tech and capital-intensive, covering items of manufacture such as rayon fibre, steel wires and rods, paper-grade pulp, chemicals, drugs and pharmaceuticals.

Telecom and fisheries account for chunk of Thai investments in India. There are 33 Indian joint ventures in Thailand, and the major Indian groups involved are Aditya Birla, Indorama, Ballarpur Industries, Usha Martin Industries, Ranbaxy Laboratories and Lupin.