Thailand Seeks Free Trade Agreement with Pakistan to Enhance Regional Cooperation

Strategic Insights -

Thailand's Ambassador to Pakistan, Mr. Rongvudhi Virabutr, has emphasized the importance of establishing a Free Trade Agreement (FTA) between the two countries to leverage opportunities for enhanced trade, tourism, and economic cooperation. This move is aimed at strengthening regional connectivity and boosting business and tourism ties between Pakistan, Thailand, and the Association of Southeast Asian Nations (Asean) region. During a meeting with Pakistani business and social figures, the Thai envoy highlighted the potential for doubling the bilateral trade volume and stressed the need for direct flights and relaxed visa policies to facilitate cooperation.

Key Takeaways:

  • Thailand's Ambassador to Pakistan, Mr. Rongvudhi Virabutr, is keen on establishing a Free Trade Agreement (FTA) with Pakistan to enhance regional cooperation and trade opportunities.
  • The ambassador emphasized the importance of a free trade agreement in elevating trade and investment between the two nations to new heights.
  • He suggested increasing direct flights and relaxing visa policies between Pakistan and Thailand to boost business and tourism ties.
  • The current bilateral trade volume between Pakistan and Thailand stands at $1.1 billion, with the potential to increase up to $2.2 billion.
  • The trade volume between the two countries had reached $1.8 billion during the Covid-19 pandemic, indicating potential avenues for cooperation.
  • Secretary General UBG, Zafar Bakhtawari, emphasized the importance of linking Pakistan with Asean countries through direct air connectivity to open new dimensions in public and business-level engagements.
  • The Thai envoy noted that a free trade agreement would help strengthen regional connectivity and facilitate cooperation between the two nations.
  • The meeting featured a detailed discussion on bilateral trade opportunities, investment, logistics, visa policies, tourism, and collaboration in various sectors.

Statistics:

  • Current bilateral trade volume between Pakistan and Thailand: $1.1 billion
  • Potential increase in bilateral trade volume: up to $2.2 billion
  • Peak trade volume between the two countries during the Covid-19 pandemic: $1.8 billion
  • Number of sectors discussed during the meeting: trade opportunities, investment, logistics, visa policies, tourism, and collaboration

Sources:

  • "Thailand seeks free trade agreement with Pakistan to enhance regional cooperation"

+ Source: The Express Tribune, Pakistan

  • The Express Tribune article

+ Source: athba.pk, Pakistan