Islamabad Chamber of Commerce for expanding trade volume between Pakistan, Thailand

Islamabad: Yasir Sakhi Butt, President Islamabad Chamber of Commerce & Industry (ICCI) has stressed the need to expand bilateral trade volume between Pakistan and Thailand.

He expressed these views while talking to a business delegation led by Mr.Pichate Satirachaval, Thailand Trade Representative visited ICCI on Thursday. Marut Jitpatima, Ambassador of Thailand in Pakistan and Sohail Mahmood, Pakistan’s Ambassador in Thailand also accompanied him.

President ICCI said that the annual bilateral trade between Thailand and Pakistan was very low which is around $1billion and underlined the need to further improve it. He said that exchange of business delegations could be better option for exploring areas of common interest.

He said that Pakistani exporters also want to increase export share in the Thai market but non-tariff barriers were an obstacle in the way of increasing exports. He said that both governments should work to sign a Free Trade Agreement covering goods, services, investment and customs cooperation to provide level playing field to the businessmen.

ICCI president was of the view that investment cooperation was another area in which both countries could collaborate for mutual benefits. Information technology, telecommunication, construction, automobile parts, food processing, fisheries, agriculture, hotel industry and real estate offer tremendous opportunities and potential for cooperation, he added.

Speaking on the occasion, Mr.Pichate Satirachaval, Thailand Trade Representative said that tremendous amount of economic, commercial and political activities between Thailand and Pakistan should take place for enhancing bilateral trade relation between the business communities of both countries. He exchanged views on common interests and agreed to strengthen economic relations between the two countries.

Marut Jitpatima, Ambassador of Thailand in Pakistan, expressing his views on this occasion, stated that there were plenty of opportunities between the two countries for escalating trade volume and the recent visit would further give impetus to our friendly relations. He also underlined the need to sign Free Trade Agreement between Pakistan and Thailand to further boost economic relations between the two countries.

Sohail Mahmood, Pakistan’s Ambassador in Thailand said that several initiatives were underway to enhance bilateral trade ties between Thailand and Pakistan. He highlighted the importance of Joint Trade Committee, Joint Economic Commission and Joint Business Council as essential platforms to expand and strengthen trade, commercial and economic cooperation between Pakistan and Thailand. He said that Thailand could support Pakistan in processing of food to increase the shelf life of the fruits and vegetables.

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