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HOME > News > Thailand – India to increase mutual trade and investment cooperation to achieve USD35 billion in trade value
Published: 18 June,2024 | Updated: 18 June,2024
Thailand – India to increase mutual trade and investment cooperation to achieve USD35 billion in trade value

Bangkok, June 17 (AseanAll)  — On June 17, 2024, Thai Deputy Government Spokesperson Radklao Inthawong Suwankiri disclosed about the Republic of India’s hosting of the 10th Joint Commission for Bilateral Cooperation between Thailand -India in New Delhi on February 27, 2024, which was cochaired by the Thai then-Deputy Prime Minister and Minister of Foreign Affairs Parnpree Bahiddha-nukara and Indian Minister of Foreign Affairs. Outcome document of the 10th Joint Commission for Bilateral Cooperation between Thailand -India was agreed upon and signed at the meeting, and concerned agencies were later assigned to proceed according to the outcome document toward tangible achievements.

At the cabinet meeting on June 11, 2024, the Thai cabinet acknowledged outcomes of the 10th Joint Commission for Bilateral Cooperation between Thailand -India, as proposed by Ministry of Foreign Affairs. Gist of the outcomes are such as the agreement to increase mutual trade and investment and to solve various trade barriers in a bid to achieve the trade value target of USD35 billion sooner. Thailand and India also came to terms on promoting land, air, and waterway transport connectivity.

Other important matters that need continued effort of concerned agencies are for example:

Politics / Security: Elevating Thailand-India relations to strategic partnership; organizing the 13th meeting of Joint Working Group on Security Cooperation; and signing of MOU between Indian Computer Emergency Response Team (CERT - In) and Thailand’s National Cyber-Security Agency (NCSA)

Economic cooperation: Calling on India to lift trade barriers against Thai products; encouraging Indian investors to consider investing in Thailand; and pushing forward the review of ASEAN - India Trade in Goods Agreement (AITIGA)

Connectivity: India – Myanmar – Thailand (IMT) Trilateral Highway Project; negotiation on an increase of flight capacity for Thai commercial airlines; Landbridge project; and cooperation on near costal voyage

 

Multilateral cooperation: finalizing the date for the upcoming BIMSTEC Summit; and vote swapping under the UN framework.