KARACHI, Sept 17: Thai trade delegation leader Prachuab Chaiyasan has proposed formation of a "study group" comprising experts from Pakistan and Thailand to identify the means and ways to enhance bilateral trade relations.

"Time to talk and make speeches has gone, now the time calls for action. Lets go for it and do some action in this regard," he remarked. In a meeting with the Karachi Chamber of Commerce and Industry members here on here Friday, he said both the countries were situated at strategic locations and could further trade interests of each other in their respective regions.

Prachuab Chaiyasan, who is a former Thai minister for foreign affairs, said Pakistan was gateway to central Asian and the Middle East and could help access a huge market for its trade partners. On the other hand, he said, Thailand was very strategically located, having trade relations with China, Korea, Japan and America, besides other trade openings.

Referring to a Pakistani investor accompanying the delegation, he said he was here as a proof of tremendous investment opportunities in Thailand. Mr Chaiyasan said the role of private sector was very crucial for the growth of any economy as the private sector was synonymous to action and not the government.

The leader of the 24-member delegation said his country might sign free trade agreement (FTA) or Thai trade relations (TTR) with Pakistan and other new trade partners. "We might go for free trade option with Pakistan."

Responding to a question, Mr Chaiyasan said Pakistan was no competitor of Thailand in rice crop as both the countries were exporting altogether different varieties of the crop. "We have crop cooperation with the countries in close proximity and support each other without threatening each other's crops and exports," he assured.

Talking about the possible trade quantum, he said it might be doubled or tripled, depending upon trade facilitation and opportunity exploration activities. "The scope is vast and even joint ventures from textile machinery to cosmetics, tourism and lot of others, can prove to be a great success but before we indulge in such a business.

The experts must meet and identify the ways," he remarked. Earlier, KCCI President Siraj Kassam Teli expressed the hope that the visit of the Thai delegation would help enhance mutual trade ties. -APP