Director of Regional Economic and Investment Centre, Thailand, Sakchai Luangsathitku, said on Wednesday that India-Thailand business partnership is a win-win situation for both the countries and urged city enterprenuers to invest in Thailand.
Addressing the CII Chandigarh members at an interactive session with the members of Thailand Board of Investment (BOI) organised by CII, he said that Thailand-India business joint forum is being set
up to stimulate expansion of bilateral trade and investments and facilitate business partnerships between the two nations.
Sakchai Luangsathitkul while inviting the small and medium enterprises from the tricity to invest in
Thailand, said that Thailand offers major incentives including no foreign equity restriction in manufacturing, corporate income tax holidays up to 8 years and 50 per cent reduction for 5 years.
“In recent years, the northern states of India have emerged as a prime focus area for us as the number of MSMEs here has grown tremendously,” he said, adding that Indo-Thai trade covers a wide range of fields such as tourism, manufacturing, climate change, agri-processing, furniture, culture, electronics, software development.
“The past few years
have witnessed growing warmth, increasing economic and commercial links, exchange of high-level visits on both sides and signing of a large number of agreements leading to strengthening of business ties”, he added.
Talking about the substantial growth of trade between India and Thailand, he said, “Over the last 15 years, bilateral trade between Thailand and India grew phenomenally reaching $8.2 billion in 2011 and expanded to $8.6 billion in 2012. It is expected that this upward trend would reach $16 billion by 2014 and is looking at the North Eastern region as a major hub for investment.
“Increase in trade volumes will not only help India and Thailand but also ASEAN countries. At present 92 products across.
Source: http://www.indianexpress.com/news/-indiathailand-biz-partnership-a-winwin-situation-/1158403/