Deputy Secretary-General to the Prime Minister and Acting Government Spokesperson Anucha Burapachaisri disclosed that Prime Minister and Defense Minister Gen. Prayut Chan-o-cha was updated on promotion of trade cooperation between Thailand and India. On April 20, 2023, the 13th Thailand-India Joint Trade Committee (JTC) was held in New Delhi, Republic of India, the first meeting in 20 years since 2003.
JTC is an important mechanism for promoting trade and investment cooperation, and addressing trade obstacles, as well as pushing forward economic cooperation. In 2020, Thailand and India agreed to resume JTC meetings after almost 20-year hiatus, following the FTA negotiations between the two countries, and between ASEAN and India. Main agendas of the 13th JTC included trade obstacle minimization and economic cooperation promotion.
According to the Government Spokesperson, both sides agreed in principle to adopt electronic signatures and seals for certificates of origin on products, and to link India’s Unified Payments Interface (UPI) system with Thailand’s PromptPay system, using QR Code, to facilitate tourist spending. The meeting also came to terms to promote cooperation in film production and healthcare tourism.
Thailand called on India to consider importing Thai young coconuts, lifting its restriction on the import of tires and color TVs and the ban on importing air conditioners containing refrigerants, and ending restrictions on imports of natural rubber and cut flowers from Thailand, on which India agreed to take these requests into consideration.
India is Thailand’s no.1 trade partner from South Asia, with mutual trade value of over USD17,702.82 million in 2022. There are much more trade and investment potential between the two countries.
The Government Spokesperson added that the Prime Minister thanked all concerned agencies for the success of the 13th Thailand-India Joint Trade Committee (JTC), and expressed hope that the meeting would further strengthen trade and investment and economic cooperation, increase mutual trade value, and reduce trade and investment obstacles for the interest of the people of both countries. (PRD)
