Thailand, Sri Lanka to double bilateral trade in 3-5 years

COLOMBO, THAILAND, June 1 (TNA) - Thailand and Sri Lanka have agreed to enhance bilateral economic cooperation and double two-way trade to about one billion US dollars over the next 3-5 years, aimed to achieve a more balanced economic partnership. The agreement was reached during bilateal talks between Sri Lankan President Mahinda Rajapaksa and visiting Thai Prime Minister Yingluck Shinawatra in Colombo, Sri Lanka's capital, on Friday. Besides, the Sri Lankan and Thai leaders also agreed to set up a joint panel to boost bilateral economic cooperation between Colombo and Bangkok in various sectors. Two-way trade value between Sri Lanka and Thailand stood at 545.3 million US dollars last year, with Thailand posting a trade surplus of 361.5 million US dollars. The prime minister is paying her official visits to Sri Lanka and the Maldives from May 31-June 3 to boost relations between Thailand and South Asia and to promote Thailand's investment overseas. (TNA)