Tripura:Thai trade grp expressed interest to invest

By Staff
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Google Oneindia News

Agartala, Jun 23: Thailand based C P Group of Industries is keen to invest in food processing industry in Tripura as the Thai government has identified energy, natural gas, tourism and food and agro based industries as potential areas for investment.

Addressing a joint news conference here today Thailand's Commerce minister Krirk-Krai Jirapaet and minister for Development of NE Region (DoNER) Mani Shankar Aiyar and Union Commerce minister of state Jairam Ramesh said that India and Thailand would start initiative to increase volume of trade between the countries through Northeast.

"Thailand is all set to sign a free-trade agreement and duty free business with India shortly while bilateral cultural agreement to be signed next week between two countries," Mr Jirapaet said adding that India's current trade volume with Thailand was only 3.6 billion US dollar, one seventh of total trade between China and Thailand.

The Tripura government has invited C P Group to visit the state in August to initiate the formalities of investment deal, which has already invested in food processing sector in Chennai besides, China and European nations.

While Thailand is the gateway of southeast Asia, Tripura would be the gateway of Northeast, said Mr Aiyar and added that Thailand and Northeast have similarity in culture, traditions and economic bases in large extent and Government of India was keen to go for long tie-up with Thailand.

The Centre has taken series of initiatives to offer full potentials of "Look East Policy" to northeastern states and it is just opposite to the Thai government's policy of look west, said Union Commerce Minister of state Jairam Ramesh.

"We are trying to make a strong trade tie among Thailand, northeast region, Myanmar and Bangladesh and for that matter India has agreed to invest in Myanmar port while contemplating for using Chittagong port of Bangladesh," Mr Ramesh said.

A 29-member Thai business delegation led by Thailand Commerce Minister Krirk-Krai Jirapaet arrived here yesterday on a two-day visit with a view to explore trade opportunity in Northeast (NE).

During the meeting, Thailand delegation has interacted with the artisans of Tripura, Mizoram and Nagaland regarding rubber, bamboo, handloom and handicrafts related matters.

The delegation has left for Guwahati today and to hold meeting with the business groups of Asom, Manipur and Arunachal Pradesh on the issues related to power, inland waterways and surface communication while tomorrow they will visit Meghalaya to discuss on tourism, hospitality management, horticulture and floriculture.

According to commerce ministry officials visiting here, the negotiations for setting up export-import business with Thailand had started in 2004 but it was stopped for the time being on certain issues including India's demands to exclude almost 500 items from the tariff reduction package.

UNI

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