BIZ TODAY REPORT
KARACHI: The Free Trade Agreement between Pakistan and Thailand is in final stages which after implementation is expected to double the bilateral trade between both the countries, Suwat Kaewsook, Consul General Royal Thai Consulate-General Karachi said at an opening ceremony of three-day long Thailand Exhibition on Friday.
The Kaewsook said that the 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 new range of technology and products in the exhibition which reflects the confidence of Thai investors, he said.
President Karachi Chamber of Commerce & Industry (KCCI), Shamim Ahmed Firpo, who inaugurated the exhibition as chief guest said that FTA will increase the bilateral trade between two countries from current $1 billion to around $2.5 billion. Pakistan and Thailand are enjoying cordial relations, he added.
He viewed that the exhibition shows that the anti Pakistan propaganda in the western media was no longer effective as 45 companies with 8 categories of products including foods 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 fibers, 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.
Firpo asked the business communities of both the countries to explore more avenues of enhancing trade and look for opportunities for joint ventures.
Arif Suleman, Honorary Trade Advisor to Ministry of Commerce, Royal Thai Government 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 materialized.
Suebsak Dangboonrueng, Director Thai Trade Centre, Dhaka, Department of International Trade Promotion, Ministry of Commerce, Royal Thai Government also spoke on the occasion and highlighted the importance of holding such country exhibition for trade enhancement.
The exhibition being managed by Event and Conference International Pvt. Ltd, and the Department of International Trade Promotion, Ministry of Commerce, Royal Thai Government will conclude on Sunday, Saturday 24.