Thailand, Bhutan firm up cooperation in trade, investment and tourism

By THE NATION

 

 

Deputy government spokeswoman, Ratchada Thanadirek on Tuesday reported the results of the third joint trade commission (JTC) between Thailand and Bhutan, which was held in the Bhutanese capital of Thimphu on September 26 and 27.

 

“The trade between the two countries has expanded continuously, going from US$4 million (around Bt120 million) in 2014 t$39.75 million in 2018. Thailand and Bhutan aim to expand their trade value to $50 million by 2021,” she said.

 

Ratchada added that Thailand is ready to support products exported from Bhutan by according Duty Free Quota Free privileges covering some 7,000 agricultural and industrial products.

 

Moreover, Thailand has invited Bhutanese entrepreneurs to join annual international exhibitions in Thailand, namely, the lifestyle product fair STYLE Bangkok Fair and the food product exhibition THAIFEX.

 

In terms of economic collaboration, Thailand is ready to support negotiations to promote the cooperation between the two countries’ tourism industry, especially the “Two Kingdoms One Destination” project and the sustainable development of tourism.

 

In addition, Thailand is glad to support Bhutan in handicraft knowledge as part of the Memorandum of Understanding (MOU) signed between The Support Arts and Crafts International Centre of Thailand (Sacict) and the Ministry of Domestic Industry of Bhutan.

 

Bhutan is currently working on the development of an industrial estate area and dry port in order to attract direct investment from foreign countries while facilitating customs procedures for exports and imports.

 

“Bhutan has shown interest in coordinating with Thailand on this matter,” said the deputy spokesman. “We have asked for further information on investment rules and investment promotion projects, which we will then pass on to Thai investors.”

 

Source: https://www.nationthailand.com/news/30377876

 

-- © Copyright The Nation Thailand 2019-10-30

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1 hour ago, webfact said:

Thailand, Bhutan firm up cooperation in trade, investment and tourism

One minor handicap. Bhutan has a much better corruption perception ranking when compared with Thailand. This should make the negotiation of deals and the exchange of envelopes somewhat more complicated and less rewarding for Thailand "connections" than it might with other S.E. countries and agencies.

2 hours ago, webfact said:

In terms of economic collaboration, Thailand is ready to support negotiations to promote the cooperation between the two countries’ tourism industry, especially the “Two Kingdoms One Destination” project and the sustainable development of tourism.

Wait for it; in a few months, when there are not as many Indians as expected, the news will read: "High-spending Bhutanese saving Thailand's tourism sector. Thailand looking forward to attract 8 million Bhutanese tourists" (Bhutan having a population of less than a tenth of that)...

Blah, blah, blah.  Just lower the Baht.  Period. 

Bhutan, population 763,000. GDP 2.6 Bn. Wow! Thailand is saved.

3 hours ago, webfact said:

Ratchada added that Thailand is ready to support products exported from Bhutan by according Duty Free Quota Free privileges covering some 7,000 agricultural and industrial products.

Ah, just the same as the Asean free trade agreement?

Cancel the import duty on Beer Laos as required, replace it immediately with a new 'special tax' at the same rate as the old import duty.

3 hours ago, webfact said:

Bhutan is currently working on the development of an industrial estate area and dry port

They would have struggled to have made it a wet one ..