Thailand and Pakistan are holding talks on a Free Trade Agreement (FTA), which is likely to be signed by the end of this year.
Thailand Ambassador Suchart Liengsaengthong disclosed this in a meeting with LCCI Vice President Nasir Saeed at the Lahore Chamber of Commerce & Industry.
Former LCCI Senior Vice President Mian Nauman Kabir, Executive Committee Members Amjad Ali Jawa, Mian Abdul Razzaq, Raja Adeel Ashfaq, Asad Noor Paganwala, Sheikh Muhammad Ibrahim, Shahzad Ahmed, Tariq Mahmood and others were also present.
The ambassador said that trade would flourish after the signing of the FTA between the two countries. He said that such tools are important in today’s world as these bring down cost of doing business and remove the non-tariff barriers. He said that Thailand is already investing in Pakistan while more Thai companies are keen to start their operations here.
He said that a high-level business delegation from Thailand would visit Pakistan in the first week of August. The delegation would contain people from cosmetics, construction, automobile, plastic, consumer goods, furniture, seafood and private hospitals.
He invited the LCCI to arrange a trade delegation for Thailand to explore trade, investment and joint venture opportunities. He said that the textile and tourism sectors of Pakistan are vibrant. He said that Pakistan could learn a lot from Thailand in the tourism sector.
He said that Pakistani products should be introduced in the Thai market more effectively. He said that Thailand and Pakistan should join hands to give new strength to their trade and economic ties. Both countries with dynamic consumer markets, have unlimited scope for the businessmen of the two countries.
LCCI Vice President Nasir Saeed said that Thailand and Pakistan established diplomatic ties back in 1951 and both countries have been enjoying steady economic and trade relations. Although, Pakistan faces unfavourable balance of trade with Thailand but consistent rise in bilateral trade is a positive sign.