Thai ambassador pushes for swift conclusion of FTA with Pakistan

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KARACHI: Pakistan Ambassador of Thailand in Thailand has demanded the abolition of an independent trade agreement (FTA) between Thailand and Pakistan and on the Karachi Chamber of Commerce and Industry (KCCI). It is emphasized that it will move forward to finalize the FTA as soon as possible, which will definitely help improve existing trade relations between the two countries.

During his visit to the KCCI, the Thai ambassador said that although the talks have been suspended for some time, finalization of the FTA was his top priority. “We urge the business community in Karachi, especially in the KCCI, to advocate for the timely end of the FTA. He added that although Pakistan has challenges with trade deficit in the previous FTA. It has been encountered, but it is important to acknowledge that these agreements go beyond the goods trade and include services and investment – the key sector where both countries can benefit.

According to the KCCI statement, the ambassador also shared its ambitions from $ 1.1 billion to $ 2 billion to Thailand Pakistan’s trade volume, raising its current price from $ 1.1 billion. He pointed out that the trade between the two countries had previously reached $ 1.8 billion before the pandemic of the Coid 19, which has led to a target of $ 2 billion. “We can identify new sectors for cooperation and encourage activities that will promote bilateral trade,” he added. On the topic of bilateral trade, the ambassador mentioned that Pakistan’s exports to Thailand were about $ 150 million at the time, with a trade balance in favor of Thailand. However, he emphasized that Thailand has the potential to increase exports, especially in pharmaceutical, seafood, chemicals and cement sectors. He said that about 60 % of Pakistan’s economy is operated by the economy, which offers wealth for mutual cooperation opportunities. “Although manufacturing is an important aspect of trade, we should look to the service sector while trying to enhance our trade relations.”

In addition, the Thai envoy called for cooperation for Thailand’s Electric Vehicles (EV), which is becoming increasingly popular in the Thai automotive market. He advised that Thailand could help Pakistan in the development of its EV industry by sharing skills and technology.

Highlighting the important role of Karachi in bilateral trade, he said, “Karachi works as the main hub for trade between our two countries, in which many businessmen are engaged in trade with Thailand, He is also a member of this respected chamber.

The Ambassador also highlighted the importance of reducing the cost of business, especially through innovations like the ASEAN single window system – a paperless platform for customs clearance in ASEAN countries. “We believe that this system can be extended to ASEAN business partners, including Pakistan, to reduce business costs. Pakistan’s FTA with Malaysia is eligible for people to take advantage of the ASEAN single window paperless clearance system. Makes

He proposed to organize the ASEAN trade festival in Karachi, where buyers and sellers of Pakistan and ASEAN countries can find business opportunities. “Karachi is an ideal place for such an event, looking at its central status and strategic importance.”

Speaking on the occasion, Thailand’s Consul General Sorisasht Buntyland in Karachi announced the introduction of an e -visa facility, which facilitates the applicants to apply for a visa in Thailand Online, which is personalized. The need for consulate is eliminated. “The purpose of this new facility is to make Pakistani citizens easier to visit Thailand, and we are committed to providing full support to facilitate trade and bilateral relations,” he added.