Thailand’s Ambassador to Pakistan, Rongvudhi Virabutr, has urged the swift finalization of the Free Trade Agreement (FTA) between Thailand and Pakistan. He called on the Karachi Chamber of Commerce & Industry (KCCI) to press the government to conclude the agreement promptly to improve trade relations between the two countries.
As per the KCCI statement, the ambassador expressed his goal to elevate the Thailand-Pakistan trade volume from its present $1.1 billion to $2 billion. He highlighted that trade between the two countries had previously peaked at $1.8 billion before the Covid-19 pandemic, indicating that reaching the $2 billion target is feasible with dedicated efforts.
Virabutr stressed that Pakistan’s exports to Thailand were currently about $150 million, with the trade balance favoring Thailand. He noted the potential to increase exports to Thailand, especially in the pharmaceutical, seafood, chemical, cement, and similar sectors. Roughly 60% of Pakistan’s economy was powered by the services sector, offering numerous opportunities for collaboration.
Additionally, the Thai envoy emphasized Thailand’s backing of electric vehicles, underlining their growing popularity in the Thai automotive market. He proposed that Thailand could aid Pakistan in developing its EV industry by sharing knowledge and technology.
The ambassador accentuated the importance of lowering business costs through innovations like Association of Southeast Asian Nations (ASEAN) single window system, a paperless platform for customs clearance within ASEAN bloc. He suggested that this system could be extended to ASEAN trade partners, including Pakistan, to help reduce business costs. He noted that Pakistan’s FTA with Malaysia makes it eligible to benefit from this paperless clearance system. He also proposed organizing an ASEAN trade fair in Karachi, allowing buyers and sellers from Pakistan and ASEAN countries to explore business opportunities, spotlighting Karachi’s central location and strategic importance as ideal for such events.
During the event, Consul General of Thailand in Karachi, Surashete Boontinand, announced the launch of an e-visa facility. This new service enables applicants to apply for visas to Thailand online, removing the necessity of visiting the consulate in person. “This new facility aims to make it easier for Pakistani citizens to visit Thailand, and we are committed to providing full support to facilitate trade and bilateral relations”, he stated.
Earlier, KCCI Senior Vice President Ziaul Arfeen noted that, despite the substantial trade potential between Pakistan and Thailand, Pakistan’s exports to Thailand were relatively low at approximately $149 million, whereas imports from Thailand amounted to $719 million in FY24.
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