India and Thailand to co – operate in two way trading

The private sectors of India and Thailand have been urged by the deputy commerce minister of Thailand to co- operate with each other in order to boost two - way trade in goods and services. The Thailand Minister suggested Thai and Indian businesses to forge closer links in several crucial areas like entertainment , fashion designing, IT and gems and Jewelery. SMEs in India can import precious and semi – precious gemstones from Thailand at a lower cost and also share knowledge about designing and crafting with their Thai counterparts to hone their craftsmanship. SMEs in India and Thailand can pursue the benefits of economic co operation in sectors such as health care, information and communication technology and bio technology. The Free Trade Agreement when it becomes functional it will make the trade ties between India and Thailand flourish. The consolidation of the trade ties between India and Thailand will provide a fillip to Indian Businesses both small and big ,whose export basket to Thailand largely constitute of pharmaceuticals, diamonds,chemicals, fishery products and iron and steel.