Thai negotiating team lead by Sunanta Kangvalkulkij, deputy director-general of the Commerce Ministry’s Trade Negotiations Department will be in Islamabad for the fourth round of talks on trade liberalization. The Pakistani-Thai FTA would be beneficial to both countries and significantly increase bilateral trade and investment.
It would enable Thailand to expand its exports into South Asia as well as other Muslim nations in the surrounding region. Thailand will act as a gateway for Pakistan to penetrate the Asean Economic Community.
The two countries will discuss rules of origin and other issues, such as customs procedures, cooperation in many areas such as sanitary standards, trade remedies, trade facilitation, and technical barriers and laws that should be eliminated to promote trade.
Thailand will ask for Pakistan to open the market for many products including textiles and garments, processed food, sugar, chemicals, petrochemicals and plastics, rubber and rubber products, wood, printing products, electric appliances and automobiles and parts, Sunanta said.
Thailand ships to Pakistan fabrics, textiles, vehicles and parts, air-conditioners and parts, plastics and chemicals. Imports are machinery and parts, musical instruments, processed and semi-processed fishery products, ores and steel.
Thailand enjoyed a surplus of US$734 million (Bt25.4 billion) with Pakistan on two-way trade of $1.01 billion in 2014, similar trade surpluses have been registered since 2010.
In 2014, Thailand’s exports to Pakistan reached $874 million. Pakistan is Thailand’s second-largest trading partner in South Asia after India, and 46th globally.
In Marseille, France, the newly opened Cité Scolaire Internationale de Jacques Chirac is making waves in sustainable architecture.
Global stakeholders are being called to combat misinformation about Kenya’s secondhand clothing industry and focus on evidence-based research to shape…
Nissan has introduced the Denim Tribute collection, featuring six car models designed in collaboration with Beams, highlighting the artistry of…
To address the denim production challenge, Kipas partnered with dye manufacturer Archroma and laundry innovator Jeanologia to develop Contra Colors.
Milliken & Company, based in Spartanburg, has partnered with Tidal Vision, a biomolecular technology company specializing in chitosan-based innovations.
Union Minister of Textiles interacted with industry leaders, presenting the potential of alternative and allied fibers to boost India's textile…