India today said it is committed to conclude negotiations with Thailand for the proposed comprehensive free trade pact by this year-end. This will help in doubling Indo-Thai bilateral trade by 2014. Commerce and Industry Minister Anand Sharma said in New Delhi at the business meeting with Thai Prime Minister Abhisit Vejjajiva that the agreement will bring in its fold, investment, services and trade in goods, and New Delhi is committed to conclude negotiations by end of this year. Mr. Anand Sharma also sought investment from Thailand in sectors such as infrastructre, agro-processing and gems and jewellery. He also said, Thailand can also explore investment opportunities in bamboo and rubber industry in the North-eastern region of India, which is rich in forest produce. Further, the minister added that the tri-lateral highway project linking India and Thailand through Myanmar is an area of highest priority for the country. The Thailand Prime Minister, who is on a day long visit said that India is today a world leader in the manufacture of drugs and in modern health care and the market in Thailand for medical equipment and supplies is around 800 million US dollars annually. He also said, that the Indian construction sector, food processing and services can present Thai businessmen with investment opportunities. The two countries have already abolished duties on 82 items under an Early Harvest Scheme' launched in 2004.Thai Prime Minister is now holding delegation level talks with his Indian counterpart Dr. Manmohan Singh. Coordinated patrolling in the sea to deal with piracy, expansion in trade ties and greater Thai investment in the infrastructure particularly in the tourism is the focus of discussion. Dr. Manmohan Singh is organising a banquet in the honour of visiting dignity at the end of the delegation level talks. During the day, he also exchanged views with UPA Chairperson Sonia Gandhi, and called on the Vice President and the President.Earlier in the morning, Thai Prime Minister Abhisit said his country is keen to tap greater potential in the fields of trade, investment and tourism. He was accorded a ceremonial reception at the forecourts of Rashtrapati Bhavan this morning.
News On AIR | April 5, 2011 7:19 PM
India committed to conclude negotiations with Thailand by year end