India and Thailand Agree on Wood and Rubber Investment

By Sun Narin and Ngo Menhourng

KOLKATA, 15 JULY: India and Thailand has jointly agreed to invest on wood and rubber after the interactive session jointly between Bharat Chamber of Commerce and the High Power Trade Delegation from Thai Trang province yesterday.

Mr Maitri Inthusut, the governor of Trang province, said in the meeting that Thailand aimed to build up the relationship and expand trade and investment between Thailand and India on city-city, business-business and customer-customer.

Trang has 2.7 million hectares of rubber plantation with total production of 3.5 hundred thousands tons per year with trade value of 34,000 million baht per year, according to Trang provincial governor.

It has abundant natural resources such as rubber, palm oil, fishery and various places of tourist interest and has a potential in logistics in terms of exporting to ASEAN countries, South Asia, Middle East and Africa, said Mr Maitri.

President of the Chamber Shri Pavan Poddar, said that there is a great potential in exchanging knowledge and technology to improve the trade scenario of both West Bengal and Thailand.

“I am confident that the visiting will extend the support to our Chamber in this regard in the mutual interest of development of trade and investment,” he said.

In April, the two countries are edging closer to a deal aiming at helping to double bilateral trade more than $ 10 billion by 2014.

Trade volume between Thailand and India in 2010 is $6.65 billion, and from January to May in 2011, the bilateral trade stood at $3.4 billion, marking an increase of 27.83 percent comparing to last year.

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