Thai PM aims to 'double bilateral trade volume with Pak to $2 bln by 2018'

Pakistan and Thailand sign one agreement and three MoUs in economic and diplomatic fields.

ISLAMABAD:

Thailand Prime Minister Yingluck Shinawatra on her maiden visit to Pakistan said that her country hopes to double its bilateral trade volume with Pakistan to over $2 billion by 2018.

Shinawatra, who arrived in Pakistan for an official tour on Tuesday, addressed a joint press conference with Nawaz Sharif in Islamabad.

"We both recognise the vast potential in our bilateral relations," said Shinawatra.

"On the economic front, we're pleased that our trade volume increased to over $1 billion in 2011, and agree to double bilateral trade volume by 2018. This is why we have set up the Joint Trade Committee (JTC) and the Joint Business Council."

She further explained that the JTC would also discuss the feasibility of concluding the free-trade agreement between Thailand and Pakistan in the near future.

Shinwatra, who is the sister of former Thai prime minister and business tycoon Thaksin Shinawatra, also expressed a strong interest in cooperation in matters of defense and security.

"On security and defense cooperation, we agree to further strengthen this cooperation through exchange of visits, trainings and joint exercises."

She stressed the need to enhance people-to-people contacts between the two countries.

Pakistan and Thailand also signed an agreement and two Memorandums of Understanding (MoUs) on Tuesday, for increasing cooperation in economic and diplomatic fields.

The agreement exempted the visa requirement for visits by diplomatic staff, while the MoUs agreed to establish a Joint Business Council and a Joint Trade Committee (JTC) to facilitate bilateral economic activity.

The Thai Prime Minister said both countries saw huge benefits in a stronger mutual economic relationship, and the JTC was there to actualise it.

A red-carpet reception

The Thai Prime Minister, who is on a two day official visit to Pakistan, received a red-carpet reception by Minister of State for Information Technology and Telecommunication Anusha Rehman, followed by a 19-gun salute.

Also present was the Ambassador of Thailand in Pakistan Marwin T Attanawin.

The bilateral visit of Thai Prime Minister in Pakistan on the invitation of Prime Minister Nawaz Sharif is the first of its kind in a decade.

While the national anthem of both countries were played, Shinawatra was presented a salute by a contingent of three forces.

Aside from calling on President Asif Ali Zardari and holding official talks with PM Nawaz, she is expected to sign agreements and two MoUs.

The business delegation who has accompanied the Thai Prime Minister will be meeting with their Pakistani counterparts during their two-day visit.