Islamabad /DNA/ – Thailand was keen to promote trade ties with Pakistan as both countries have great potential to do trade in many items that would be beneficial for the economies of both countries. This was stated by H.E. Chakkrid Krachaiwong, Ambassador of Thailand while interacting with the business community at Islamabad Chamber of Commerce & Industry (ICCI).

The envoy said that Thailand was waiting for a response on FTA from the Pakistani side as its last chapter was yet to be finalized that would help boost trade between the two countries. He highlighted seafood, pharmaceuticals, gems & stones, IT infrastructure, tourism, agro products including fruits as potential areas of trade cooperation between the two countries. He said that Thailand was constructing many high rise buildings and Pakistani marble & granite as good potential in the Thai market. He said that Thai investors were interested to invest in food processing and food chain business in Pakistan. He said that Pakistani people were very generous & hospitable and many Thai tourists were keen to visit Pakistan. He said that post-Covid, both countries should focus on promoting people-to-people contacts that would help in improving trade relations as well.

Speaking at the occasion, Muhammad Shakeel Munir, President, Islamabad Chamber of Commerce & Industry briefed the Thai Ambassador about potential of foreign investment in various sectors of Pakistan’s economy and urged that Thai investors should take benefit of these opportunities investing in Pakistan. He said that many Pakistani products including marble & granite, medicines, surgical instruments, sports goods, leather products, mangoes and others could find a good market in Thailand and it should focus on Pakistan to meet its import needs. He said that bilateral trade of around USD 1.6 billion was not up to the real potential of both countries and both sides should facilitate their private sectors for improving two-way trade volume. He said that Pakistan was producing all varieties of marble and granite with mechanized mining and Thailand should import these products from Pakistan to meet the needs of its construction sector. He assured that ICCI would like to work with the Thai Embassy for further improving trade and economic relations between Pakistan and Thailand.

Jamshaid Akhtar Sheikh Senior Vice President ICCI, Zafar Bakhtawari, Muhammad Naveed Malik, Fasee Ullah Khan, Hafiz Bilal Munir, Muhammad Shakir, Akhtar Hussain and others also spoke at the occasion and shared useful ideas to improve business linkages between the private sectors of Pakistan and Thailand for trade promotion.