Thai, Indian business delegates look forward to successful bilateral trade

Indian and Thai entrepreneurs expressed hope of successful bilateral trade between the two countries during a trade and investment week in Bangkok, which concluded on Thursday.

By Sanjay Kumar

Bangkok, Oct 6 : Indian and Thai entrepreneurs expressed hope of successful bilateral trade between the two countries during a trade and investment week in Bangkok, which concluded on Thursday.

About 200 Indian and 100 Thai business representatives attended the North East India Trade and Investment Opportunities Week, during which at least eight Memoranda of Understanding (MoUs) were signed.

Northeastern Development Finance Corporation Ltd (NEDFL) signed an MoU with the India-Thai Business Forum, headed by an Indian origin Thai Satish Sehgal and Indo-Rama Thai Company headed by Vinod Gupta.

Thailand's Construction Company has signed an MoU with some construction companies of Assam for building infrastructure in the state.

"It is just the beginning of the cooperation. It's a step-by-step process towards relationship. Hopefully it becomes successful", said Polpat Karnasuta, President of the Thai Contractors Association.

Satish Sehgal, Director of the Board of Trade of Thailand, welcomed the signing of the MoUs. He, however, believes things are not going to work unless the connectivity is not increased in the North East.

"One flight a week is not enough. You have to increase the number of flights", said Sehgal, who has been instrumental in mobilizing the Thai businessmen to attend the conference.

Thai's Director General Trade, Chutima in the feedback session held on the third day felt that the biggest problem in the investment in the North East is that not much is known about the region in Thailand.

Keeping this in mind, DONeR Minister Mani Shankar Aiyar suggested setting up of a North East desk in the Indian Embassy in Thailand.

The orchid rich states like, Sikkim, Meghalaya and Mizoram signed agreements with the Horticulture Research Institute of Thailand for training and capacity-building, greenhouse technology, tissue culturing, planting material and packaging of both cymbidium and dendrobium orchids.

"Businesses there is very lucrative, there are many potential sectors, call it tourism, horticulture-there are areas where Thai people can really plumb into. I think it will be a successful business once they are convinced the kind of potential we have in the North East", said Lien Gangte, an entrepreneur from Manipur.

"With this dialogue, there would be lots of visit to North East...the visit will make North East and Thailand cooperation stronger", said Piyabutr Cholvijarn, Deputy Minister of Industry, Thailand.

Investment week was a follow up of the first North East business summit held in New Delhi in June.

On the conclusion of the Business Week, Aiyar said that India's "Look East Policy" has started bringing dividends through this summit.

External Affairs Ministry will be holding a high level meeting on the "Look East Policy in New Delhi on October 15.

ANI