BANGKOK, Nov 23: Thailand and Singapore on Wednesday signed 10 pacts promising three billion baht ($72.7m) in investment, aiming to increase business and tourism links between the two Southeast Asian nations.

“By 2010, or four years from now, trade and investment figures between Thailand and Singapore will double through the development of special incentive packages for Singapore-Thai joint ventures,” Thai Deputy Prime Minister Somkid Jatusripitak told a news conference.

“This cooperation between the two countries has upgraded our economic partnership and it will help many countries in Asia to compete on a global scale,” he said.

Nine of the deals covered private sector projects and the 10th a government project, agreed to at the second meeting of the Singapore-Thailand Enhanced Economic Relationship in Bangkok. Singapore is Thailand’s second-biggest investor after the United States, with investments worth $600 million last year.

Seven investment deals in the private sector cover information technology, software, electronics, auto parts, transportation and logistics.

The two countries also agreed to explore ways of creating a single tourist visa for both their nations and to attract one million tourists from China in the next three years. —AFP