Dec 24, 2012

Thailand - Thailand supports upgrade in Asean-India ties

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Attending the ASEAN-India Commemorative Summit in New Delhi, she said that building and expanding linkages are important keys to the partnership between the two sides as sea, air and land networks will eventually increase trade and investment.

India hosted the summit on December 20-21 to mark the 20th anniversary of the ASEAN-India dialogue partnership and the 10th anniversary of the ASEAN-India Summit-level partnership. India-ASEAN trade has grown more than ten times in the ten years since the annual summits began.

At the meeting with the Thai private sector on the same day, Yingluck also reviewed obstacles in doing business in India, like land ownership, licensing, visa application, and contribution to provident funds. They proposed meetings with Indian public sector and a trade seminar, to address the issues.

After implementation of the FTA for goods, trade grew by 41 per cent in India’s 2011-2012 fiscal year. Two-way flows in investment have also grown rapidly to reach US$43 billion over the past decade.

"The ASEAN leaders highly valued the effective cooperation that India has made with the grouping in strengthening regional connectivity and linkage and building an ASEAN Community," Yingluck said.

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