Trade-ties: Pakistan, Thailand to pen FTA

ICCI President pushed for investment in value added textile and food products

ISLAMABAD: Executive Director, Thai Board of Investment, Chollada Areerajjakul on Friday said that Pakistan and Thailand have started negotiations to sign a Free Trade Agreement (FTA) and hoped that the FTA would help in boosting the bilateral trade between the two countries.

A Thai delegation led by Areerajjakul along with representatives of Billiger & Company of Thailand visited Islamabad Chamber of Commerce and Industry.

They also discussed the possible investment opportunities in Pakistan with special interest in food, processed agricultural products, textiles and clothing, construction, pharmaceutical and jewellery.

Speaking on the occasion, Chollada Areerajjakul said that Pakistan is considered to be a potential hub for investment and the delegation has come to explore these opportunities for Thai investors.

The members of the delegation said that Indian pharmaceutical companies have entered Thailand and they stressed the need for Pakistani manufacturers of pharmaceutical and other products to improve product quality in order to better penetrate Thailand’s market.

Addressing the Thai delegation, Islamabad Chamber of Commerce and Industry (ICCI) President Atif Ikram Sheikh stressed upon the need of regular exchange of trade delegations between Pakistan and Thailand to find out all potential areas of mutual cooperation and to improve bilateral trade. He identified agriculture, food processing, Information Technology (IT) and telecommunication, engineering, pharmaceutical, automobile and construction as potential sectors for Thai investment in Pakistan.

He said Pakistan was basically an agro-based economy with huge foreign investment potential and emphasised that Thai investors should bring latest agriculture technology and machinery to Pakistan and establish joint ventures to produce value added food and textiles products.

Sheikh said Pakistan has made liberal investment policies and Thai investors should set up production plants in areas of interest to get better access to South and Central Asian markets.

He assured that ICCI would extend all possible help to Thai investors for making investment in Pakistan. 

Published in The Express Tribune, October 3^rd, 2015.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.