“Thai-India Joint Trade Committee Meeting 2022: Solving Import Problems, Opening Markets & Promoting Economic Cooperation”

2023-04-19 05:25:00

Department of Trade Negotiations Preparing to bring a Thai delegation to attend the Thai-India Joint Trade Committee (JTC) meeting on April 20, this is the first time in 20 years, focusing on solving import problems. open agricultural and livestock markets product standard and economic cooperation

Mrs. Oramon Supthaweetham Director-General of the Department of Trade Negotiations revealed that has prepared to lead the Thai delegation to attend the 13th Thailand-India Joint Trade Committee (JTC) meeting on 20 April in New Delhi, Republic of India. which is considered a meetingin almost 2 decades Since the 2003 conference hosted by India There will be important discussions on the agenda such as solving the problem of import restriction measures. opening of agricultural and livestock markets The electronic signature and stamp of the Certificate of Origin Product Standard Acceptance and economic cooperation (filmmaking and medical tourism)

reasonmain meeting place JTC empty for a long time because of the past The two countries entered into negotiations on the Thai-India FTA and the ASEAN-India FTA. Later, in 2020, both sides agreed to revive the JTC meeting as a mechanism to discuss ways to promote trade and investment. and resolve trade barriers As well as promoting economic cooperation between the two sides, the JTC meeting is therefore important to strengthen economic relations and promote trade between the two sides.

In this regard, more than 20 years ago India’s economic development has greatly increased. It is currently the fifth largest economy in the world with an economic value of $3.5 trillion. It has the number 1 population in the world with a population of more than 1,417.17 million people, representing 17% of the world’s population. And there are advancements in digital technology and financial reform policies. India is ranked 63rd in Ease of Doing Business out of 190 countries in 2022 (World Bank data).

In 2022, trade between Thailand and India was valued at $17,702.82 million, expanding by 18.06%. Thailand’s exports to India are valued at $10,524.68 million and Thailand’s imports from India are valued at $7,178.14 million. Thailand’s major exports include plastic resins, vegetable and animal fats and oils, chemicals, gems and jewelry, and iron and steel products. India’s major imports include jewellery, precious stones, bullion and gold. machinery and components Other metal ores, metal scraps and chemicals

For the period Jan. – Feb. In 2023, trade between Thailand and India was worth $2,692.56 million, with Thai exports to India worth $1,619.49 million and Thailand’s imports from India worth $1,073.07 million.

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