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Thailand-Pakistan trade talks revived after decade

Thailand and Pakistan have agreed to restart discussions under their Joint Trade Committee (JTC) at the ministerial level, ending a decade-long hiatus.

Thailand’s Minister of Commerce Pichai Naripthaphan (R) and Pakistani Ambassador to Thailand Rukhsana Afzaal (Photo: NNT)
Thailand’s Minister of Commerce Pichai Naripthaphan (R) and Pakistani Ambassador to Thailand Rukhsana Afzaal (Photo: NNT)

Bangkok (NNT/VNA) - Thailand and Pakistan have agreed to restart discussions under their Joint Trade Committee (JTC) at the ministerial level, ending a decade-long hiatus.

In recent talks between Thailand’s Minister of Commerce Pichai Naripthaphan and Pakistani Ambassador to Thailand Rukhsana Afzaal, the two nations outlined plans to enhance trade and economic cooperation. Key priorities include resuming negotiations for a Free Trade Agreement (FTA) and strengthening collaboration in industries such as food, textiles, gems and jewelry, fisheries, and tourism. Thailand is set to host the 4th JTC meeting later in 2025.

Pakistan’s large population of over 240 million, including 80 million working-age individuals, offers significant opportunities for trade partnerships. The country’s natural resources, such as seafood, gemstones, and minerals, complement Thailand’s manufacturing sectors, while Thai exports, such as synthetic fibers, chemicals, and automotive parts, are vital to Pakistan’s production chain. To build stronger ties, Thailand will participate in Pakistan’s My Karachi Oasis of Harmony Exhibition later this year, a platform to promote bilateral trade and cooperation.

Investment collaboration remains a major focus of the renewed discussions. Pakistan’s Special Investment Facilitation Council is working to attract foreign investments in key sectors, including agriculture, information technology, renewable energy, mining, and tourism. Meanwhile, Thailand has invited Pakistan to invest in its growing data center sector, highlighting the country’s robust infrastructure and resource availability. Between January and November 2024, trade between the two nations reached 1.031 billion USD, with Thailand exporting goods worth 781.36 million USD and importing 250.40 million USD in products such as seafood, crude oil, and textiles.

The resumption of JTC talks signals a fresh commitment to deepening economic ties between Thailand and Pakistan. Pakistan’s expanding market and Thailand’s industrial strength present a promising platform for growth, allowing both nations to increase economic collaboration and development in the years ahead./.

VNA
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