Thailand today sought more investment from Indian companies as it looks to increase the volume of bilateral trade and position itself as a regional logistics hub.
"We are a leading economy in Asean region and invite Indian companies to invest for our growth.
"Nearly USD 200 million has been invested by Indian companies in the last two years and Thailand has positioned itself as a regional logistics hub for Indian companies to help them cater to the needs of Asean countries," Consul of Commercial Affairs at Royal Thai Consulate-General, Mumbai, Suwimol Tilokruangchai, told reporters here.
Thailand's Prime Minister Prayuth Chan-ocha is likely to visit India in June and discuss ways to increase bilateral trade, apart from resolving pending issues like full-fledged Free Trade Agreement (FTA) between the two countries.
The two countries have a partial FTA with 83 items being traded at present, Consulate officials said.
Bilateral trade is growing at a "tremendous" rate and stood at USD 8,815 million in 2015, Tilokruangchai said.
The total trade between India and Asean countries in 2015 was worth USD 6.8 billion.
"Besides the trilateral road highway connecting India and Thailand via Myanmar that will connect the Asean region, Thailand has a clearly defined strategy to enhance its connectivity with India though infrastructure links, for example, the development of Pak Bara port on the Andaman Sea, while a private Thai company has obtained a concession to develop Dawei port in Myanmar to act as a gateway to India, the Middle East (West Asia) and Europe," Tilokruangchai said.
Thailand is organising 'Tilog-Logistics 2016', an exhibition on logistics service providers and intra-logistics technologies and solutions for Asean countries between September 21-23 in Bangkok.
Indian companies have been invited to participate in the trade conference, the organisers said.
Unifying the powers of 'Asean+6 Logistics' can boost logistics opportunity for Indian entrepreneurs through business networking and best practices in supply chain management, said Reed Tradex Company's Senior Manager-Portfolio Duangrat Udomsomporn.
