India and Thailand to resolve FTA issues by this June-July

This article was last updated on April 16, 2022

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India and Thailand have planned to resolve all the issues related to the comprehensive bilateral market for both the countries by this June-July. After discussing all the issues with the Thai Prime Minister, Yingluck Shinawatra, Dr. Manmohan Singh has told the media people that, “This Free Trade Agreement is very beneficial for both the countries. This is all about goods, services and investments. We are trying hard to solve it.”

India and Thailand have released a joint statement regarding the FTA. “To strengthen the links between both the countries FTA will be very helpful. Both the countries are reaffirmed to resolve their bilateral Comprehensive Agreement on Trade in Goods and Services, and Investments by 2012.”

With an aim to further generate a supportive atmosphere for the bilateral and regional comprehensive economic cooperation, the two leaders have also agreed that ASEAN and India should conclude their regional Trade in Services and Investment Agreements by 2012.

India and ASEAN have already executed FTA in goods. During Shinawatra visit, the 2nd Protocol to modify the Framework Agreement for Establishing Free Trade Area, which would provide further boost to bilateral trade in the immediate terms, was also signed. “We have also concluded a revised Double Taxation Avoidance Agreement. I conveyed to the Prime Minister that we welcome more Thai investment into India, especially in the manufacturing, infrastructure and services sectors,” Singh has added.

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