Pakistan and Thailand register record trade levels

ISLAMABAD – Pakistan and Thailand have registered record bilateral trade levels during 2010. The total bilateral trade during 2010 (January-December) amounted to $916 million, which also represented an increase of 15 percent in total trade which was $794.5 million in 2009.
Bilateral trade in 2008 was to the tune of $737 million, which indicates that in two years; the overall trade volume has expanded by almost 25 percent. There has been a consistently positive trend in bilateral trade, which has grown from $260 million in 2000 to $916 million in 2010 – a growth of 350 percent over the course of a decade. Pakistan’s exports to Thailand have also registered an upward trend recently.
In 2009, Pakistan’s exports reached $113.43 million – the highest ever figure for Pakistani exports to Thailand. During 2010, Pakistani exports totaled $80.5 million.
According to the data released by the Thai Ministry of Commerce, Pakistan’s imports from Thailand in 2010 were valued at $835.5 million, up from $681 million in 2009. Major exports from Pakistan to Thailand were textile-related products ($41 million in particular, yarn, fibers, fabrics and garments, seafood products ($19 million), metal ores ($3.4 million); and chemicals ($2.6 million).
Major imports from Thailand included motorcars and parts ($160 million), chemical products ($65 million), sugar ($83 million), polymers ($55 million), synthetic filament and staple fibres ($43 million) and rubber products ($38 million).
Pakistani Ambassador to Thailand Sohail Mahmood stated that while the trend in bilateral trade volume was a good omen, it was equally important to ensure the growth of balanced trade with Pakistani exports also gain further ground in the market.
Ambassador Sohail Mahmood noted that several initiatives were underway to enhance sharing of information, increase the exchange of business delegations, and deepen interaction between the private sectors of both countries.
In this context, he highlighted the importance of the Joint Economic Commission (JEC) as well as the proposed Joint Trade Committee (JTC) and Joint Business Council (JBC) as crucial platforms to expand and strengthen trade, commercial and economic cooperation between Pakistan and Thailand.