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 10 Sep 2008

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Thai-India Trade
FTA boosts two-way trade: Thai agency

Thai products have much room to grow in the Indian market since various kinds of products remain in great demand by consumers there, state news agency TNA quoted Thailand's International Trade Negotiation Department as saying.

Chana Kanarattanadilok, deputy director-general of the department, revealed the value of bilateral trade between Thailand and India had increased since the free trade area (FTA) agreement between the two countries was reached on September 2006 under which 82 products are import tariff-free.

In addition, negotiations are underway for import tariff reductions affecting several thousand other products, Chana indicated.

Last year, he said, the combined bilateral trade value of the countries surged to more than 163 billion baht, and in the first seven months of this year, the value of trade had reached 114
billion baht.

Main export products include steel and irons, plastic pellets, and vehicles and parts while import products are diamonds and jewelleries, silver and gold bars, ores, and metal products.

Chana said the department had organised seminars on "Tapping into huge potential market of India" in many provinces including Chiang Mai, Phuket, Khon Kaen, Chantaburi, and Bangkok during the past six months.

The seminars were held to give Thai producers knowledge and understanding of the Indian market so that they could improve their products to meet needs of people in India where various
kinds of Thai products are still in great demand.

He said that businesses with growth potential in India include tourism, restaurants, spas, and consumer products.




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