India-Thailand Trade Can Reach $12 Billion By 2012

[george]

‘India-Thailand trade can reach $12 billion by 2012′

Mon Jan 24 2011 22:16:21 GMT+0700 (ICT) by IANS

Kolkata, Jan 24 (IANS) Bilateral trade between India and Thailand could go up to $12 billion by 2012 from the present level of $5-6 billion, Royal Thai Consul General in Kolkata Prasittidesh Vichitsorasatra said Monday.”We will try our best to achieve the figure of $12 billion bilateral trade with India by 2012,” Vichitsorasatra said at the meeting on ‘Enhancing Indo-Thai Business Cooperation’, organised by the Bengal National Chamber of Commerce and Industry (BNCCI) here.

On the ongoing political unrest and anti-government agitation in Thailand, he said: “It will not affect the trade as the protests are not being carried out in business areas. Most of the people of the country want the end of the unrest.”

India and Thailand signed a Free Trade Agreement (FTA) Oct 9, 2003, for enhancing cooperation in agriculture, tourism and science.

But there were obstacles to trade and investment activities in India, he said, adding that these were visa requirements and difficult and prolonged procedure to import Thai food stuff.

However, he said that there were prospects for joint-venture between India and Thailand in many sectors.

“In the areas like construction of roads and other infrastructure, hotel and restaurant and tourist activities, both the countries have prospects for joint-venture,” he added.

-- thaindian.com 2011-01-24

http://www.thaindian.com/newsportal/business/india-thailand-trade-can-reach-12-billion-by-2012_100492761.html