New Delhi: Commerce and Industry Minister Piyush Goyal held discussions with Thailand’s Deputy Prime Minister and Minister of Commerce Suphajee Suthumpun Wednesday on ways to further strengthen trade and investment ties between the two countries.
The two Ministers discussed ways to further strengthen the India-Thailand economic partnership, with a focus on enhancing bilateral trade and investment, expanding business opportunities and deepening business-to-business linkages, according to a statement issued after the meeting at Vanijya Bhawan.
The two sides exchanged views on further enhancing trade and investment between India and Thailand through greater collaboration and co-creation of solutions in areas that can promote balanced and sustainable growth in bilateral trade. They also discussed strengthening trade promotion activities in both countries to foster business networks, facilitate greater business-to-business engagement and expand market opportunities for enterprises, the statement said.
The two sides exchanged views on the progress of the review of the ASEAN-India Trade in Goods Agreement (AITIGA) and emphasised the need for deeper bilateral engagement through the India-Thailand Joint Trade Committee (JTC) in a time-bound manner.
Both sides recognised the importance of a balanced and mutually beneficial framework that can support greater market access and create opportunities for businesses in both countries.
The two Ministers also addressed a delegation of Thai businesses working across diverse areas, including space technologies, cold-chain logistics, food processing and innovation, health and wellness, and trade and investment promotion.
India and Thailand share longstanding civilisational, cultural and economic linkages, as well as a strategic partnership. The two countries have been working towards further expanding bilateral trade and investment and strengthening private-sector cooperation. Existing bilateral mechanisms have also emphasised the need to facilitate trade, resolve market-access issues and strengthen linkages with regional and global supply chains.
The meeting reaffirmed the shared commitment of India and Thailand to further deepen economic engagement, strengthen business partnerships and build a robust, balanced and mutually beneficial trade and investment relationship, the statement added.
