2400crore trade agreements signed by Thailand and India

By | October 15, 2019

Chennai: Thailand and India have signed agreements for Rs 2,400  to spice up trade ties between the 2 countries, Deputy Prime Minister of the southeast Asian country Jurin Laksana Visit said on Friday. The pacts were across segments together with rubber, construction material, food and beverages, logistics, he told reporters here on the sidelines of an incident organized by the CII (Confederation of Indian industry)Giving a clear stage from the agreements, Laksana  on his initial visit to Asian countries same the agreements signed in Mumbai total 4.45 billion Thai baht (about Rs 900 crore) whereas, in Chennai, it was 7.623 billion Thai Thai monetary unit (about Rs 1,500 crore).
“The total trade generated by this trip is 12.075 billion Thai Thai monetary unit. This range is satisfactory and that we think about it as a large success for this visit, he said. Leading a delegation from national capital with over 30 firms collaborating, the same the most objective of the visit was to strengthen strategic partnerships with Asian countries, expand new business opportunities. For Mumbai, the main target of partnerships was on food, construction material, supplying and property development. For Chennai, the main target was on the rubber market from an Asian country to an Asian country, he said. The deputy Prime Minister, conjointly holding the Ministry of Commerce portfolio, said the demand for rubber from India after his discussion with rubber firms throughout the visit was that India needs import of regarding one million tonnes of rubber.
“Asian domestic trade will meet regarding forty percent of rubber however India needs 60 percent of the demand to import rubber. So, the Asian country may be a high potential market,” he said. He noted that the Indian market was growing steady because it wasn’t suffering from the trade war that was presently on with several alternative countries.