The Deputy Prime Minister and Commerce Minister of Thailand Mr Jurin Laksanawisit was on a first trade visit to Mumbai and Chennai, India to promote Thai products from September 25-28, 2019.
Thai delegation: It comprised of officials from the International Trade Promotion Department, Ministry of Commerce, Thailand Rubber Authority and many private sector officials.
Launch of Agri-Trade Supply Chain Alliance
- Mr Jurin Laksanawisit launched the Agri-Trade Supply Chain Alliance (ATSCHA) which will ease the trade relations and increase trade commodity supply between the countries.
- He addressed the Thai Indo Business Networking (TIBN), a trade networking platform organised by The Department of International Trade Promotion and Ministry of Commerce, Thailand which was held in Mumbai, Maharashtra.
- A Memorandum of Understanding (MOU) was signed between Association of Furniture Manufacturers & Traders, India and Thai Hevae Wood Association; Thailand-India Business Council and GlobalLinker to create an online platform for SMEs (Small and Medium-sized Enterprises) from both countries.
- Thailand also invited a business delegation from India in November 2019 and Indian onliner retailer BigBasket.com to sign a deal with the Thailand government for the promotion of Thai products on its e-commerce platform.
Thailand, India sign trade agreements worth Rs 2,400 crore
- Thailand and India signed agreements worth Rs 2,400 crore to boost trade ties in the field of rubber, construction material, food and beverages, logistics.
- Agreements signed in Mumbai accounted to 4.45 billion Thai baht (about Rs 900 crore) and in Chennai, it was 7.623 billion Thai baht (about Rs 1,500 crore).
- For Mumbai, the focus on partnerships was on food, construction material, logistics and real estate development. For Chennai, the focus was on rubber market from Thailand to India.
Thailand is the largest producer of rubber and the rubber industry in Thailand is targeting Chennai’s automobile and textile manufacturing hubs. The demand for rubber from India is about one million tonne.
Thailand wants to sell ready-to-eat, frozen and chilled food products in India and looks forward to build co-operation with Reliance Retail and Future Group in India. It also seeks to supply its biodegradable plastics.
♦ India is Thailand’s tenth largest export market.
♦ Thailand is also known for its Tapioca Starch which is one of the best in the world and the country’s primary export product.
♦ Thailand is the world’s largest exporter of Rubber and Rubber Wood.
♦ Capital: Bangkok
♦ Currency: Thai Baht