KARACHI: With the implementation of a free trade agreement (FTA), which is about to be finalised, the bilateral trade between Pakistan and Thailand will be doubled.
Speaking at the opening ceremony of three-day Thailand Exhibition on Friday, Suwat Kaewsook, the Consul General Thai Consulate in Karachi, said Pakistan has made substantial progress over the years and bilateral trade and diplomatic relations between both the countries have further strengthened.
Around 45 Thai companies are displaying their new range of technology and products in the exhibition which reflects the confidence of Thai investors in Pakistan, he said.
Karachi Chamber of Commerce and Industry (KCCI) President Shamim Ahmed Firpo, who inaugurated the exhibition as chief guest, said that the FTA will increase bilateral trade between the two countries from currently $1 billion to around $2.5bn.
He said that the exhibition shows that the anti-Pakistan propaganda in the western media is no longer effective as 45 companies with 8 categories of products including food and beverages, garments, medicine, cosmetic and fashion accessories, gifts and decorative items , health and beauty , household and kitchenware, leather and footwear production are participating.
He noted that immense potential to enhance trade as major exports from Pakistan to Thailand include yarn and fibre, chemicals, finished oils, edible meat etc but there are plenty of other products which are capable of capturing share in Thai market, which need effective marketing and promotional activities.
Mr Firpo asked the business communities of both the countries to explore more avenues of enhancing trade and look for opportunities for joint ventures.
Honorary Trade Advisor to the Ministry of Commerce, Royal Thai Government Arif Suleman, informed that recently a Thai delegation visited Pakistan to explore opportunities to set up facilities in seafood processing sector.
He hoped that the investment from Thailand in the seafood processing sector would be materialised.
Published in Dawn, September 23rd, 2017