US-China trade tussle to boost India-Thailand trade volumes
Press Release
Contributed by :Staff
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The ongoing trade tussle between China and USA will boost the trade volumes of other prominent countries including Australia, Brazil, Canada , Japan, India and Thailand, said Ms. Supatra Sawaengsri - Director and Consul (Commercial) - Thailand in Mumbai. Talking to a select group of journalists on the eve of forthcoming trade show and seminar to be held in Mumbai, Ms. Sawaengsri said," The trade tussle will also boost the volumes of both India and Thailand in the near future. India is among the several countries that stand to benefit from the ongoing trade tensions between the world's top two economies, the US andChina, he pointed out.
About Indo-Thai trade, Ms. Sawaengsri said the two-way trade in 2018 totaled US dollar 12.46 billion, with about US dollar 7.60 billion in Thai exports to India and US dollar 4.86 billion in Indian exports to Thailand. In the ASEAN region, Thailand ranks as India's 5th largest trading partner after Singapore, Vietnam, Indonesia and Malaysia. We expect Indo-Thai Trade to grow by 8% i.e around 13.45 billion US$ for the year 2019.
The growing ties between India and Thailand have come at a time when the AEC is expected to bring greater integration among member countries be it in the form of physical connectivity, economic links, cultural and educational ties, she pointed out. Meanwhile to strengthen the bi-lateral trade, the Thailand has started to organize the trade shows in Mumbai from last couple of years. The next three day trade show will be held on 27 th June to 29 th June, in Mumbai. Organised by The Department of International Trade Promotion, Ministry of Commerce, Royal Thai Government, the trade show will be held at the Bombay Exhibition Center, Mumbai and it will be inaugurated by Hon. Shri Subhash Desai, Industry Minister, Maharashtra.
About the forthcoming show, she said, "There will be exclusively Thai manufacturers participating in this event and they represent the vital sector like Skin care, Jewellery, Textiles, Food products, Handicrafts, Crockery and Household items". These Exhibitors are looking forward to have B2B Matchings at the Exhibition with the Indian Companies who would be interested to do business with these Thai Companies at the Exhibition, she added.
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