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Thailand-Pakistan FTA in final stages

Thailand-Pakistan FTA in final stages

BANGKOK: The Free Trade Agreement (FTA) between Pakistan and Thailand is in final stages which after implementation is expected to double the bilateral trade between both the countries. The Consul General of Thai Consulate in Karachi, Suwat Kaewsook, said this while speaking at the opening ceremony of three-day Thailand Exhibition on Friday, said a statement. Kaewsook said Pakistan has made substantial progress over the years and bilateral trade and diplomatic relations between both the countries have further strengthened.

Around 45 Thai companies are displaying new range of technology and products in the exhibition which reflects the confidence of Thai investors, he said. Karachi Chamber of Commerce & Industry (KCCI) President Shamim Ahmed Firpo, who inaugurated the exhibition as chief guest, said that FTA will increase the bilateral trade between two countries from current $1 billion to around $2.5 billion. Pakistan and Thailand are enjoying cordial relations, he added. He said there is an immense potential to enhance trade between two countries as major exports from Pakistan to Thailand include yarn and fibers, chemicals, finished oils, edible meat etc but there are plenty of other products which are capable of capturing share in Thai market which need effective marketing and promotional activities. Firpo asked the business communities of both the countries to explore more avenues of enhancing trade and look for opportunities for joint ventures. Honorary Trade Advisor to Ministry of Commerce, Royal Thai Government Arif Suleman, informed that recently a Thai delegation visited Pakistan to explore opportunities to set up facilities in seafood processing sector. He hoped that the investment from Thailand in the seafood processing sector would be materialised.