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Call to step up trade with Thailand

Our Bureau

NEW DELHI, July 10

THE private sector of India and Thailand should double their efforts to improve the ``relatively small'' bilateral trade level of $800 millions, according to Mr. Vichien Tejapaiboon, President of the Board of Trade of Thailand.

``Through the years, India has enjoyed trade surpluses with Thailand. This is not a problem for us. What we seek is increased trade between our two countries. We believe that the sky is the limit in this regard,'' he said, while addressing an interactive meeting with the members of the Federation of Indian Chambers of Commerce and Industry (FICCI).

Mr. Tejapaiboon pointed out that Thailand's exports to India, which included fabrics, plastic materials and electronic goods, stood at about $321.19 millions during fiscal 1999-2000 and its imports from India during the same period stood at $457.05 milli ons. India's exports to Thailand mainly comprised gems & jewellery, drugs and pharmaceuticals, agro chemicals and marine products.

While calling on the private sector to exert more effort to match the potential offered by both the countries, Mr. Tejapaiboon felt that Bangladesh, India, Myanmar, Sri Lanka and Thailand-Economic Cooperation (Bimstec) would provide an excellent framewor k for the private sector of both India and Thailand to achieve greater results.

``The Board of Trade of Thailand attaches great value to the work of this grouping,'' he said.

Meanwhile, an Exim Bank of India official told the visiting business delegation from Thailand that the bank has recently opened a line of credit of $10 millions to facilitate manufacturing and engineering goods exports from India.