BANGKOK, Thailand – Thailand and Pakistan are considering the revival of free trade agreement (FTA) negotiations to strengthen economic ties and expand bilateral trade and investment opportunities.
Nalinee Taveesin, Chair of Thailand’s Trade Representative Office, met with Rukhsana Afzaal, Ambassador of the Islamic Republic of Pakistan to Thailand, to discuss economic collaboration. The meeting focused on trade and investment opportunities, particularly in the food processing and tourism industries, while also promoting Thai soft power and enhancing broader cooperation frameworks. A key topic was the potential resumption of the Thailand-Pakistan Free Trade Agreement (PATHFTA) negotiations, which have been stalled for over five years.
Thailand sees Pakistan as a significant trade partner with untapped potential, given its population of over 240 million and abundant natural resources, including coal, copper, iron ore, gemstones, and seafood, which could serve as raw materials for Thai industries. Pakistan’s strategic location as a gateway between South Asia, the Middle East, and Central Asia further enhances its appeal for trade and investment expansion.
Both countries emphasized the need to create a more favorable trade environment by implementing policies that facilitate business operations and remove trade barriers.
Pakistan expressed interest in attracting Thai investment, particularly in food processing, as it has abundant resources but lacks the necessary expertise and equipment. Pakistan is also seeking Thai investment in tourism infrastructure. Meanwhile, Thailand aims to promote its soft power, particularly in Thai cuisine and Muay Thai, in Pakistan. Both sides agreed to enhance cooperation under various bilateral frameworks, including Political Consultation and the Joint Economic Commission, to ensure continued diplomatic and economic engagement.
Tourism between the two countries has also seen significant growth, with over 75,000 Pakistani tourists visiting Thailand in the past year, marking a 13% increase. Discussions also included the development of Buddhist pilgrimage routes in Pakistan, which could promote interfaith understanding, strengthen regional ties, and boost cultural and religious tourism for Thai travelers. Pakistan is also planning to hold a Buddhist Exhibition in Thailand early next year to further cultural exchange.
Pakistan remains an important market for Thailand in South Asia, with bilateral trade last year reaching 1.26 billion US dollars, an increase from the previous year. Thailand’s key exports to Pakistan include automobiles and parts, synthetic fibers, chemicals, plastic resins, and rubber, while major imports from Pakistan consist of crude oil, seafood, agricultural products, paper, and ready-made garments. (NNT)
