The Hindu : Thailand seeks joint ventures with India

Online edition of India's National Newspaper
Tuesday, Jun 18, 2002

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Thailand seeks joint ventures with India

By Our Special Correspondent

NEW DELHI June 17. India and Thailand can cooperate in information technology, medium sector industry, educational institutions, tourism, textiles and clothing, automobiles and auto parts as well as gems and jewellery.

This is the assessment of the Thai Government which has identified possible areas for investment opportunities by the two countries. According to the Thailand Ambassador, Bandhit Sotipalalit, the proposed free trade areas between the two countries would not only strengthen economic relations but would also be mutually beneficial in the free exchange of goods at lower costs.

Addressing a seminar on `India and Thailand: Trade and Investment Opportunities' organised by the Confederation of Indian Industry (CII), he urged the Indian business community to invest in these sectors through joint ventures.

He said Thailand was working closely with Myanmar to complete a network of roads which would connect India and Myanmar. As India is already connected to Myanmar through a road from Manipur, the short "missing link'', when completed, would facilitate the smooth transport of goods and people across the borders of the two countries.

Mr. Sotipalalit said that at the regional level, Thailand was working on various projects to bring India closer not only to Thailand but also to other South East Asian countries. He noted that as BIMST-EC (Bangladesh, India, Myanmar, Sri Lanka and Thailand) and Mekong Ganga Cooperation framework (India, Thailand, Laos, Cambodia, Myanmar and Vietnam) share a common objective of linking transportation networks and facilitating the flow of goods and people, the two frameworks together would open a market of 250 million people for India.

Senior Thai officials said bilateral trade had gone up significantly. While India's exports to Thailand went up from $424 million in 1998 to $671 million in 2001, India's imports from Thailand rose from $284 million in 1998 to $483 million in 2001

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