KARACHI: Thailand Ambassador to Pakistan Chakkrid Krachaiwong has stressed the importance of resolving issues related to Letter of Credit (LC) and foreign currency repatriation in Pakistan to attract foreign investors. He emphasized that these challenges not only affect Thai businesspeople but also foreign businesses in general. Addressing these concerns could lead to a more business-friendly environment in Pakistan, thus making it an attractive destination for foreign investors.
The Ambassador highlighted the longstanding warm and friendly relations between Pakistan and Thailand, spanning seven decades. He expressed Thailand’s commitment to enhancing economic cooperation with Pakistan, considering it his “second home.” His goal is to promote and strengthen the relationship between the two nations.
The Thai Ambassador mentioned that the Thai government is keen to reach a Free Trade Agreement (FTA) with Pakistan. He expressed that they are currently waiting for Pakistan to propose a date for the next round of negotiations. Finalizing the FTA could prove mutually beneficial for both economies.
During the meeting at the Karachi Chamber of Commerce & Industry (KCCI), the Ambassador acknowledged Karachi’s status as a vibrant economic hub and the Chamber’s pivotal role in Pakistan’s economy. He discussed potential business opportunities in sectors such as tourism, automotive parts, food processing, food-related products, and agricultural products.
President Karachi Chamber of Commerce & Industry (KCCI) Iftikhar Ahmed Sheikh presenting crest to Ambassador of Thailand Chakkrid Krachaiwong who led a Thai delegation during its visit to KCCI. Thai Consul General Narut Soontarodom, Deputy Consul General Siriporn Tantipanyathep, pic.twitter.com/aWZUd08AVM
— Karachi Chamber of Commerce and Industry (@kcci_official) October 19, 2023
Thailand Ambassador Encourages Sustainable Tourism
The Ambassador also encouraged cooperation in sustainable tourism to protect culture and natural resources, benefiting the tourism industry. He emphasized the synergy between Thailand and Pakistan, noting that Thai rubber is used in the production of world-famous Pakistani footballs.
Furthermore, the Ambassador highlighted the successful resumption of Thai Airways operations in Pakistan, which has facilitated travel between the two countries. He invited KCCI to participate in Thai trade fairs to expand Pakistan’s market share in the ASEAN region.
In addition, he suggested that KCCI collaborate with the Thai Chamber of Commerce for business matchmaking and exploring trade and investment opportunities in Thailand.
President of KCCI, Iftikhar Ahmed Sheikh, welcomed the Thai delegation and emphasized the need to diversify trade between Pakistan and Thailand. He underlined the significance of finalizing the FTA, addressing non-tariff barriers, and improving infrastructure and logistics to enhance competitiveness and boost trade between the two countries.
