Thailand promotes trade with Pakistan and Israel

Thailand is strengthening trade ties with Pakistan and Israel, following the Cabinet's resolutions on Nov 22.

Weerachai Nopsuwanwong, deputy director-general, Department of Trade Negotiations, Ministry of Commerce, said that the Cabinet approved the memorandum of understanding for the establishment of joint trade committees (JTCs) with Pakistan and Israel.

"The moves are to strengthen economic cooperation and to relax trade rules... The JTCs would be a major mechanism to boost bilateral trade and investment... The MoU should be signed soon, to pave way for the first JTC meeting," he said.

Bilateral trade with Pakistan last year amounted to $916 million while that with Israel at $1.05 billion. Thailand exports mostly vehicles, parts and accessories, sugar, chemicals, plastic pellets and food products to both markets.

With 176 million population and massive investment in infrastructure projects, Pakistan could become a new potential market for Thailand.