India, Thailand to discuss trade, security ties

India and Thailand will discuss “wide-ranging” international, regional and bilateral issues with a focus on enhancing the trade and security ties when the Thai Prime Minister, Mr Abhisit Vejjajiva, will hold talks with the Prime minister, Dr Manmohan Singh, here on Tuesday.

On his maiden visit to India, Mr Vejjajiva, who is on a day-long visit, will discuss with Dr Singh ways to strengthen bilateral ties between the two countries which share a common maritime boundary and have seen a robust expansion of trade and economic ties.

Noting that bilateral trade grew by six times in the last 10 years and last year it crossed $6.6 billion, the Ministry of External Affairs spokesperson, Mr Vishnu Prakash, said, “The economy and trade relations constitute one of the important elements of the relationship (between two countries)...In fact last year it (bilateral trade) saw a spike of 34 per cent.”

Indian companies have invested about $1.5 billion in Thailand while Thai companies have invested about $800 million in the country.

Some of the Indian corporate groups having interests in Thailand include the Tatas, Aditya Birla Group, Ranbaxy, Punj Lloyd, and Bhrati.

Similarly, Thai firms have also made their presence felt in a number of areas here especially agro processing and infrastructure. One of the Thai firms is involved with the Kolkata International airport.

“There is still lot of untapped potential both in trade and economy and that is what both sides seek to harness,” Mr Prakash said.

In October 2003, a framework of India-Thailand Free Trade Agreement (FTA) was signed in Bangkok.

“We have been discussing a comprehensive FTA on goods, services and investments as a single undertaking and the last round has just been concluded on April 1,” he said.

Asked specifically, if the FTA is likely to be signed during Mr Vejjajiva's visit, he said, “We are negotiating. I think we will need to work on it together. It should happen in the near future.”

Mr Vejjajiva, who took over as Prime Minister in December 2008, will also meet the UPA Chairperson, Ms Sonia Gandhi, besides participating in a business meeting organised by the three chambers of commerce in the country.

In the security and defence field, the cooperation includes joint exercises, coordinated patrolling, ship calls and training of officers in each other's training institutions including that of armed forces, he said.

Thailand is a big tourist hub for Indians. Over 700,000 Indians went to Thailand last year while about 40,000-50,000 Thai citizens came here to visit Buddhist sites.

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