BCIC for greater Thai, state trade

Bangalore Chamber of Industry and Commerce (BCIC) has called for greater co-operation between business community in Karnataka and Thailand for better trade relations in tourism, entertainment, healthcare services agri and food processing, education and science and technology on the occasion of the Thailand Exhibition 2005.

The bi-lateral trade between Thailand and India has been steadily increasing in recent years. In 2004-05, the total bi-lateral trade stood at around $170 million and India'a exports increased by 39.43 per cent to reach around $ 77.4 million. The imports from Thailand was around $ 92.4 million, which was an increase of 130.7 per cent as against 2004.

India and Thailand entered into a free trade agreemant (FTA), India's second FTA apart from the existing agreement with SriLanka, on 1 september 2004. During the recent visit of the Prime Minister of Thialand, it was agreed to set up a joint draft force to formulate a draft plan for co-operation in the area of science and technology, education and labour and security.

It was also decided to initiate an 'open sky' policy so that the ncrease i the number of flights between the two countries can facilitate a mutual rowth in tourism.

On this ocassion, P G R Sindhia, minister for Industry and infrastructure said that Karnataka offers unique oppurtunities for builateral trade with Thailand in the areas of information technology,biotechnology,agro-industry and food processing besides tourism. Both Karnataka and thailand can work together in the areasof enhancing competitiveness for SMEs.

"The potential for trade and commerce between india and Thailand is huge as Thailand offers a unique advantage as it acts as a bridge between India and rest of Asia," said Anant Koppar, president, BCIC.