The Hindu Business Line : Thai PM holds talks with industry captains

THE Prime Minister of Thailand, Mr Thaksin Shinawatra, arrived here today on a brief day-long `working' visit for discussions with the Prime Minister, Dr Manmohan Singh, on various bilateral and regional issues and also held talks with select gathering of Indian businessmen.

The discussions are expected to give further momentum to the talks between the two countries in the backdrop of the Free Trade Agreement (FTA) between them.

In his meeting with Indian businessmen, Mr Shinawatra is learnt to have emphasised on expanding the economic opportunities in the two countries. "The Thai PM laid stress on starting a dialogue to expand economic opportunities between the two countries, especially in the field of engineering based products," Mr M.K. Sanghi, President, Associated Chambers of Commerce and Industry (Assocham) said.

A recent statement issued by the Thai Foreign Ministry had said that bilateral trade between Thailand and India could rise to $4 billion by 2007, up from $2 billion in 2004.

Though not getting into the nitty-gritty, the Thai PM, while addressing the gathering of select Indian businessmen, is also learnt to have referred to the FTA as "challenging".

The Thai FTA has emerged as an area of concern for Indian companies, particularly those in the auto components and consumer durables sectors, with fears of cheap imports from Thailand inundating the market.

Mr Shinawatra is also learnt to have spoken on the strengthening of the BIMSTEC initiative (Bangladesh, India, Myanmar, Sri Lanka, Thailand Economic Cooperation).

The two countries are set to sign an education exchange document, which provides for exchange of conferences, exhibitions, seminars and joint research.

Leaders from both the countries reviewed bilateral relations including increased exchange of visits, tourism, civil aviation, science and technology, disaster management and India's Look East Policy.

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