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Pakistan, Thailand aim for FTA

Pakistan and Thailand hope to sign a free trade agreement by the end of 2016. This would boost trade and help in strengthening ties between the two countries. The current volume of bilateral trade between Pakistan and Thailand is around $1 billion and there exists good scope to increase it to $2 billion by improving connectivity between their private sectors.

Thailand considers Pakistan a promising country for business relations. Pakistani textiles, readymade garments, leather products and many others are very popular with Thai consumers, who want more of such products. Both countries would work together to provide a leading role to the private sector for improving bilateral trade and economic relations.

Pakistan could facilitate Thailand in establishing trade with south and central Asian countries whereas Thailand could help Pakistan in accessing the Asean region. The close cooperation between Pakistan and Thailand would be a win-win situation for both countries as they could facilitate each other in getting better market access in their respective regions.

Both Pakistan and Thailand have age-old histories of ancient civilisation and have been connected by a common cultural linkage through Buddhism and the Gandhara civilization that flourished in the city of Taxila.