Pakistan, Thailand to begin 4th round-FTA talks

BANGKOK, September 5 (TNA) - Pakistan and Thailand will hold a new round of their free trade agreement (FTA) talks, the fourth of its kind, in Islamabad later this week. Sunanta Kangvalkulkij, Deputy Director-General of the Department of Trade Negotiations, under the Ministry of Commerce, will lead a Thai delegation to the 4th round-FTA talks in the Pakistani capital during September 6-8. In the fourth round of talks, Sunanta said, the two sides will discuss tariff reductions and the list of commodities, rules of origin and legal issues. According to the chief negotiator, Thailand is seeking tariff cuts in processed food, sugar, chemical products, plastics, para rubber, wooden planks, textiles electric appliances, automobiles and auto parts. The senior official also noted that the Pakistan-Thailand FTA would help the Thai economy expand trade markets to Central Asian and South Asian countries. Pakistan, meanwhile, is Thailand’s second largest trading partner after India in South Asia, while Thailand could become a regional export gateway for Pakistan, where there are abundant resources, to the Association of Southeast Asian Nations (ASEAN) market, especially raw materials. Over the past five years, bilateral trade between Pakistan and Thailand stood at 1.02 billion US dollars on average. Thai exports having potential in Pakistan include automobiles and auto parts, chemical goods, plastic pallets, steel and synthetic fibers, while potential imports from Pakistan include fresh and frozen aquatic animals, fabrics, mineral water, soft and alcoholic drinks. (TNA)