Ministry sets goal of $1.5 billion for Thai-Sri Lankan trade in 2020
The Commerce Ministry targets bilateral trade between Thailand and Sri Lanka reaching US$1.5 billion (Bt51.2 billion) in 2020, Trade Negotiations Department director-general Boonyarit Kalayanamit said on Tuesday.
The ministry will conduct a second session of the subcommittee on trade-related matters between Thailand and Sri Lanka in Bangkok on Friday, at which trade and investment between the countries will be discussed, he said.
“Sri Lanka is a gateway for trade and investment in South Asia, offering a challenge for Thailand to export products to Sri Lanka and also to other countries in South Asia via Sri Lanka,” he added.
Sri Lanka ranks fourth for Thailand in terms of bilateral trade value with South Asian markets, behind India, Pakistan and Bangladesh.
From 2012 to 2016, trade between the two countries averaged just over $500.2 million annually, although last year’s total declined to around $440 million.