NE should develop absorptive capacity to Thai investment : Aiyer

Bangkok, Oct 3 (UNI) Northeastern states should develop the necessary absorptive capacity to accept significant investments from Thailand in sectors of strategic importance, Minister for DoNER, Mani Shankar Aiyer said here today.

Speaking at the Inaugural Session of the 'North East India Trade and Investment Opportunities Week,' being jointly organised by the Ministries of DoNER and Commerce and the Indian Chamber of Commerce (ICC), the Minister said complementarities in business and mutual synergies have the potential of enhancing trade ties between India and Thailand and strengthening relationship between the two countrries.

He called upon the Northeastern states to develop the necessary absorptive capacity to accept significant Thai investments in sectors of strategic importance including Infrastructure, Agro and Food Processing, Tourism, Handloom and Handicrafts.

Describing the India-Thailand FTA as a great positive step towards an improved bilateral relationship, Mr Aiyar stressed the need for improving connectivity between the two countries, especially air connectivity.

The Investment Week, which will be attended by mpre than 300 Indian and Thai businessmen, has been organised to project the India's Northeast as a favourable investment destination to prospective Thai investors and businessmen and to create meaningful bridges of co-operation between Industry representatives from the two countries.

Thailand's Commeerce Minister Krirk-Krai Jirapaet was the Chief Guest at the inaugural ceeremony. He had earlier visited three Northeastern states to identify areas for mutual business tie-ups and investment.

Energy, Food Processing, Agriculture and Textiles are some of the sectors that Thailand is interested in exploring in the North East, said Mr.Jirapaet.

The proposed Tri-lateral Highway Project, which will connect India, Thailand and Myanmar, will create new economic opportunities for both--Northeast India and South East Asian countries like Thailand, the Minister said.

The four-day Investment Week which will also have Exhibitions and Expositions on the Northeast, is expected to generate business between the two countries.

The Inaugural Session was also attended by Mr Ashwani Kumar, Minister of State for Industry, and Chief Ministers of Manipur, Mizoram, Arunachal Pradesh, Meghalaya and Nagaland.

UNI