Prime Minister Narendra Modi on Friday said the government would step up talks for a proposed free trade agreement (FTA) and start negotiations...
Prime Minister Narendra Modi on Friday said the government would step up talks for a proposed free trade agreement (FTA) and start negotiations for a Comprehensive Economic Partnership Agreement (CEPA) with Thailand.
Addressing media at the end of bilateral talks with visiting Thailand’s Prime Minister Gen Prayut Chan-o-cha, Modi said, “We both agree that a more diversified commercial engagement between us would not only benefit our economies, it would also enable greater regional economic prosperity.”
“Information technology, pharmaceuticals, auto-components and machinery are some other areas of promising economic collaboration between the two counties whose bilateral trade in the last 15 years has grown eight times to about $7.93 billion,” Modi added.
The visiting leader accompanied by his deputy, five senior ministers and a 46-member business delegation also agreed that while India and Thailand had already been negotiating an FTA, the talks should be made all encompassing by taking the trading relations beyond just goods to include services and investments.
In an effort to boost two-way investments, India and Thailand also decided to renegotiate a new Bilateral Investment Treaty.