ISLAMABAD: Chakkrid Krachaiwong, Ambassador of Thailand, has said that Thailand is prepared to finalize a free trade agreement (FTA) with Pakistan. He noted that negotiations on the FTA have reached the final stages, and the ball is now in Pakistan’s court to expedite the process.
Ambassador Krachaiwong expressed these views during his interaction with the business community at Islamabad Chamber of Commerce & Industry (ICCI). He announced Thai Air is resuming flights from Karachi, Lahore, and Islamabad. He underscored the need for increased bilateral trade between the two countries.
Many Pakistani tourists visit Thailand, and Ambassador Krachaiwong emphasized that they should also play a role in boosting bilateral trade ties. He called for a focus on promoting bilateral investments to achieve mutually beneficial outcomes and encouraged Pakistani businesses to participate in the Thailand Industrial Fair 2024 in January next year, which could enhance their business prospects.
The Ambassador identified several potential areas for bilateral trade, including seafood, mangoes, halal food, and halal cosmetics. He also highlighted that many Thai investors are interested in investing in Pakistan but may require guidance on where to invest.
Accompanying Ambassador Krachaiwong were Ms. Kamolwan Siriposil, Thai Economic Counsellor and Deputy Head of Mission, and Khemathat Archawathamrong, Thai Counsellor.
In response to these developments, Ahsan Zafar Bakhtawari, President of the Islamabad Chamber of Commerce & Industry (ICCI), announced that ICCI would take up the matter of the FTA with relevant Pakistani authorities to expedite its progress. He stressed that an FTA between Pakistan and Thailand would significantly boost bilateral trade.
Pakistan Exports to Thailand
Bakhtawari pointed out that while Thailand’s annual exports exceeded $285 billion, and imports reached around $300 billion, bilateral trade between Pakistan and Thailand for the year 2022-23 was less than $1 billion. He emphasized the need to diversify trade to achieve better results.
Additionally, Bakhtawari highlighted that Pakistan could export a range of products to Thailand, including value-added textiles, leather goods, sports items, pharmaceuticals, surgical instruments, and food products. He encouraged Thai investors to explore investment opportunities in Pakistan, mentioning the Special Investment Facilitation Council established by the government to facilitate new investments in various sectors.
Bakhtawari also identified tourism as a promising area of mutual cooperation, with Pakistan’s cultural heritage and diverse landscapes offering great attractions to Thai tourists. He suggested that Pakistan could learn from Thailand’s successful tourism industry to modernize and develop its own tourism sector.
Various business representatives, including Aamir Hussain, Maqsood Tabish, Ch. Muhammad Ali, Malik Najeeb, Khalid Chaudhry, Fiazan Shehzad, Kashif Chaudhry, Ms. Parveen Khan, and Ch. Tahir, among others were also present on the occasion.
