August 8, 2008
Bangkok - Thailand’s trade with India could be doubled after the Asean deal which has just been concluded.
Surin Pitsuwan, secretary general of the Association of Southeast Asian Nations (ASEAN), said Thursday that the final obstacles to the deal had been cleared, according to AFP.
The pact is expected to be signed in December at a regional summit in Bangkok.
"Free trade between ASEAN and India will make a huge impact. Two-way trade between our country and India could average about 10 billion dollars a year," Chana told AFP.
Thailand signed a bilateral deal with India four years ago, covering 82 products.
The trade between Thailand and India jumped to four billion dollars a year after the deal, according to Chana Kanaratanadilok, deputy director of department of trade negotiations.
India previously insisted Thailand reduce tariffs on copper, steel and textiles.
Trade with India is just about one-eight of Thailand’s trade with China. Thailand is keen to boost its economic ties with India, especially in trade and tourism.
