Enhancing Trade and Economic Cooperation between Pakistan, Thailand, and ASEAN

Strategic Insights -

Pakistan, Thailand, and ASEAN (Association of Southeast Asian Nations) countries have vast opportunities for enhancing trade, tourism, and economic cooperation. In a meeting with business and social figures, the Ambassador of Thailand to Pakistan, Rongvudhi Virabutr, emphasized the importance of exploiting these opportunities to double the bilateral trade volume and strengthen regional connectivity. The current bilateral trade volume between Pakistan and Thailand stands at $1.1 billion, with the potential to increase up to $2.2 billion. Thailand is seriously interested in establishing a Free Trade Agreement (FTA) with Pakistan, which would elevate trade and investment between the two nations to new heights. The meeting also discussed increasing direct flights and relaxing visa policies to boost business and tourism ties.

Key Takeaways:

  • The Ambassador of Thailand to Pakistan, Rongvudhi Virabutr, emphasized the vast opportunities for enhancing trade, tourism, and economic cooperation between Pakistan, Thailand, and ASEAN.
  • The current bilateral trade volume between Pakistan and Thailand stands at $1.1 billion, with the potential to increase up to $2.2 billion.
  • Thailand is seriously interested in establishing a Free Trade Agreement (FTA) with Pakistan to enhance trade and investment between the two nations.
  • The meeting discussed increasing direct flights and relaxing visa policies to boost business and tourism ties.
  • Pakistan-ASEAN Friendship Association members proposed collaborative projects in the fields of interior design, digital platforms, and joint ventures.
  • Bilateral cooperation in the food industry and construction sector was identified as key areas for sustainable development between the two nations.

Statistics:

  • Current bilateral trade volume between Pakistan and Thailand: $1.1 billion
  • Potential bilateral trade volume between Pakistan and Thailand: $2.2 billion
  • Bilateral trade volume between Pakistan and Thailand during the COVID-19 pandemic: $1.8 billion

Sources:

  • Pakistan-ASEAN Friendship Association
  • The Ambassador of Thailand to Pakistan, Rongvudhi Virabutr
  • Zafar Bakhtawari, Chairman of the Pakistan-ASEAN Friendship Association
  • UBG, Secretary General