India, Thailand to Start Talks for CEPA
June 20, 2016
The Government of India would come forward to initiate the talks for the proposed Free Trade Agreement (FTA) and commence negotiation for a Comprehensive Economic Partnership Agreement (CEPA) with Thailand, said Prime Minister Narendra Modi on Friday. According to him, there is synergy between the Thai infrastructure and the India’s priority in this field.
The other sectors of the promising collaboration are Information Technology, Pharmaceutical, Auto-components and machinery. Both the sides had concluded an early harvest scheme in 2004 covering 84 tariff lines, after which negotiation for an FTA started.
The bilateral trade between India and Thailand stands at USD 8 billion and Indian exports to Thailand values around USD 2.63 million, while Thai imports stood at USD 5.3 million in 2015-16.