After a 10-year hiatus, Thailand and Pakistan have agreed to resume the Joint Trade Committee (JTC) meeting at the ministerial level.
Commerce Minister Pichai Naripthaphan and Pakistan’s ambassador to Thailand, Ruksana Afsol, made the decision during a meeting.
The renewed JTC will focus on exploring ways to enhance economic cooperation between the two countries, including revisiting the Thailand-Pakistan Free Trade Agreement (FTA).
“Pakistan, with a population of over 240 million, presents a significant market opportunity for Thailand,” the minister Pichai said. “While current trade volumes are modest, there is considerable potential for growth, particularly in sectors like food, textiles, gems and jewellery, fisheries, and tourism.”
Pichai also highlighted the complementary nature of the two economies.
“Many Thai products, such as synthetic fibres, chemicals, and machinery components, can serve as valuable inputs for Pakistan’s manufacturing sector, enhancing their domestic production and exports,” he noted.
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Conversely, Pakistan possesses abundant natural resources, including aquatic animals, gemstones, coal, and iron ore, which can serve as valuable raw materials for Thailand’s manufacturing industries.
To further strengthen trade ties, both countries will actively participate in trade promotion activities. Thailand has invited Pakistani entrepreneurs to participate in the “My Karachi” international trade fair. Pakistan, in turn, has extended an invitation to Thai entrepreneurs. It has encouraged them to attend the Pakistan ASEAN Trade Development Conference in Jakarta.
Thailand is also encouraging Pakistan to invest in data centres in Thailand, leveraging the country’s robust technological infrastructure.
This news is sourced from [The Nation Thailand] and is for informational purposes only.
