- Thailand urges India to restart free trade agreement talks, enhancing bilateral trade.
- Thai private sector delegation to visit India in January for business networking.
- Both nations agree to strengthen supply chains, goods, services, and investment cooperation.
Thailand's Commerce Minister Suphajee Suthumpun urges India to resume free trade agreement (FTA) talks to enhance bilateral trade and collaboration. Commerce Minister Suphajee Suthumpun met with the Indian Ambassador to Thailand and suggested that India restart discussions on a free trade agreement (FTA).
Suphajee mentioned her meeting with Indian Ambassador Nagesh Singh to talk about enhancing economic and trade cooperation as strategic partners. In the conversation, Suphajee suggested that India restart talks for a thorough bilateral FTA.
Suphajee mentioned that the conversation sought to enhance trade possibilities due to changing global trade circumstances. She confirmed to the ambassador that Thailand was prepared to work with India according to their Joint Declaration on the Establishment of a Strategic Partnership, signed by the two prime ministers in April this year.
In the discussions, both parties concurred on advancing the development of supply chains for products that aid manufacturing in both nations, including jewellery, chemicals, and processed foods.
Suphajee suggested talks for an extensive FTA encompassing goods, services, and investments. In the near future, both nations may contemplate creating a bilateral pact on product standards that would aid both countries by removing non-tariff trade obstacles, Suphajee stated.
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The commerce minister also mentioned that the two nations decided to start utilizing certificates of origin in both electronic and paper formats. Suphajee stated that both parties also consented to engage in trade promotion events in Thailand and India to create business networks, enhance trade prospects, and foster collaboration in the private sector.
She mentioned that she would head a delegation of private companies to travel to India in January for business networking in construction materials, furniture, and sustainable products.