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Bangalore, Aug. 29 The Deputy Prime Minister and Industry Minister of Thailand, Mr Kosit Panpiemras, told the industry captains on Wednesday that significant synergies between India and Thailand could help in forging stronger business ties.

Mr Panpiemras said: “sometime before the year-end, it is my expectation that Thailand and India will be taking the “early harvest” scheme to the next level of signing a Free Trade Agreement. This occasion will open the doors for further investment and drive trade between the two countries even higher than the estimated $4 billion expected for 2007”.

In a keynote address at a meeting organised by the Federation of Indian Chambers of Commerce and Industry, Karnataka here, Mr Panpiemras highlighted the Thai economy’s strength and investment potential and opportunities for investors.

He said the planned transition to knowledge-based economy from manufacturing base would open up huge untapped opportunities for Thai and Indian investors.

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