India and Thailand are exploring opportunities to double annual bilateral trade to $ 4 billion in the next two years and expand the list of items being traded from 82 to about 5,000. "A Thai working group from has been meeting with the officials concerned here to double the trade volume from $ 2 billion to $ 4 bilion in the next two years and include many items in two-way trade," Chirasak Thanesnant, Thai ambassador to India said here today at a CII-organised conference.The group is working to expand the current list of 82 items to about 5,000 items, besides discussing to delete some "items that are of concern" to Thailand."Trade between the two countries, post-FTA, has grown to $2 billion from less than $ 1 billion in 2004. We hope that it grows further as there are huge opportunities of collaboration for business houses from the two countries, Pramon Sutivong, chairman of Thailand trade board, said."Food processing, gems and jewellery, pharmaceuticals, spare parts and tourism are some of the many areas where the two countries can cooperate and help strengthen respective economies of the two nations," Sutivong said.Sunil Kant Munjal, former president of CII said: "With government's focus on agricultural sector, food processing would throw open huge opportunities for business collaboration between the two nations."
