BANGKOK, May 23 – India’s accelerating ties with Thailand will get a further boost with Indian Prime Minister Manmohan Singh’s brief but comprehensive visit here next week, but the long awaited FTA will not be initialled during the trip, Indian envoy to the country has said.
“Thailand is keenly looking forward to this visit,” Indian Ambassador to Thailand Anil Wadhwa said, adding Manmohan’s visit here will be first time by an Indian premier after the 2004 visit by the then Prime Minister Atal Behari Vajpayee.
“Geo-politics, the trilateral highway project involving India, Thailand and Myanmar, defence, science and technology, education and culture, are some of the issues which will be discussed by the premier and his Thai counterpart Yingluck Shinawatra,” the envoy told Press Trust of India (PTI). Manmohan Singh will be here on May 30 on his way back from Japan and leave for New Delhi on May 31.
Yingluck has already visited India twice once as Chief guest at the Republic Day last year and later for the Asean India commemorative summit to celebrate the 20th anniversary of the India Asean dialogue last December.
Process to ease the consular access and visa procedure and tourism related to the Buddhist circuit are also expected to be covered in the bilateral talks. Thailand is a Buddhist majority country. Wadhwa said a slew of MoUs covering space, extradition, IT, education, Financial Intelligence Units for money laundering were also scheduled to be inked during the visit.
The long awaited Free Trade Agreement between India and Thailand will not be initialled this month. While most issues have been agreed upon some still have to be mutually agreed upon.
“We are almost done for goods, service, investment. We have to now look into tech barriers to trade, sanitary and phytosanitary measures which Indian wants and Thailand has agreed to look into,” Wadhwa said. A strong joint statement covering the fast growing ties will also be issued at the end of the visit.
Bilateral trade has multiplied six times since 2002 to reach US$8.68 billion in 2012 and is expected to touch US$14 billion by 2014. India is Thailand’s top trading partner in South Asia. Thailand has invested US$103.61 million in India (April 2000-December 2012) mainly in infrastructure, real estate, food processing sectors, hotels, hospitality sector, Electronics and Automotive components sector.
While Indian FDI into Thailand is around US$2 billion since 1970s. Thirteen new investment proposals/projects from India were approved with a total investment of US$56 million in 2010. In 2011, 15 projects with a total value of US$56 million were approved.
During January-March 2013, six applications were received. Major Indian investments were in Agricultural products, Minerals and Ceramics, light industry, metal processing, electronics and electrical, chemical, plastic and paper and service and infrastructure.
FDI from Thailand to India from April 2000 to February 2013 registered at US$111.10 million. Thai investments are mainly in infrastructure, real estate, food processing sectors and hospitality sector.
– BERNAMA
