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Thai-India bilateral trade records 34 per cent increase

Expanding horizons:Somi Hazari, board member, India-ASEAN Sri Lanka Chamber of Commerce and Industry; Maitri Inthusut (left), Governor of Trang Province; and Chanchai Charanvatnakit, Royal Thai Consul-General, Chennai, at a meeting in Chennai on Monday.— Photo: R. Ragu

Expanding horizons:Somi Hazari, board member, India-ASEAN Sri Lanka Chamber of Commerce and Industry; Maitri Inthusut (left), Governor of Trang Province; and Chanchai Charanvatnakit, Royal Thai Consul-General, Chennai, at a meeting in Chennai on Monday.— Photo: R. Ragu  

The bilateral trade between India and Thailand from January to May 2011 stood at $3.4 billion against $6.65 billion recorded for 2010, marking an increase of 34 per cent, said Trang Province Governor Maitri Inthusut on Monday.

Leading a 23-member Thai delegation to Chennai consisting of officials from Trang Province, para, rubber manufacturers, exporters and logistics businessmen from Klan-Tung port, he said that with the signing of free trade agreement between the two countries, the trade volume would grow substantially and would touch $10 billion mark by 2012.

He said that the aim of the delegation was to build and promote strong relationships and seek trade and investment co-operation between the two countries for mutual benefit. Participating in the seminar and business-to-business meeting on ‘Good quality rubber and rubber wood of Thailand,' he said, “Trang is situated between the Coast of Andaman Sea and Indian Ocean and it also served as the gateway to Malaysia, Singapore, South Asia, Middle East and Africa. It has abundant natural resources such as rubber, palm oil, fishery and various places of tourist interest. Further, Trang has a potential in logistics in terms of exporting to ASEAN countries, South Asia, Middle East and Africa.”

According to him, Trang has 2.7 million hectares of rubber plantation with total production of 3.5 hundred thousands tons per year with trade value of 34,000 million baht per year. Moreover, 2.6 million sets of parawood furniture and 5.6 million sets of toys were manufactured in Trang. Potential investors can find investment opportunities in the province in wholesale and retail businesses and in real estate as the people of Trang have high purchasing power, he said.

In his address, Royal Thai Consul-General in Chennai, Chanchai Charanvatnakit, said that the mission was aimed at deepening trade links between Thailand and Tamil Nadu.

India-ASEAN Sri Lanka Chamber of Commerce and Industry, board member, Somi Hazari said that the bilateral trade between the two countries was below its true potential and needed a big push.

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