BANGKOK: Thailand and Bhutan aim to increase bilateral trade and form closer cooperation in investment and tourism through their first Joint Trade Commission. Commerce Minister Apiradi Tantraporn said yesterday that the two countries would strengthen ties in trade, investment and other forms of cooperation, particular in the agricultural sector, through the JTC. The proposals for enhanced cooperation will be discussed at a JTC meeting in the Bhutanese capital Thimphu for two days beginning today. Apiradi will lead the Thai delegation, while Bhutan’s trade minister will chair the meeting.
“The two countries will discuss trade promotion, investment and agricultural cooperation. We have had close relations for a long time through the two Royal Families. With emerging seamless trade, we will cooperate in many ways to drive economic growth together,” she said. Two Thai enterprises have already invested in Bhutan’s hotel business. They are Haven Resort in the town of Paro and DhusitD2 in Thimphu.
Bhutan is Thailand’s eight-largest trading partner among South Asian countries, and 166th globally. Trade between Thailand and Bhutan was quite small at US$11 million (Bt380 million) last year. The value of two-way trade during the past five years averaged $15.1 million, but has grown quite strongly at 38 per cent a year. Exports from Thailand averaged $14.98 million, growing by 39.12 |per cent a year, while imports amounted to a very small $120,000 a year.
Potential export products from Thailand to Bhutan are automobiles and parts, textiles, machinery and parts, wheat products, processed food, garments, canned and processed fruits, microwave ovens, electrical appliances, |furniture and parts, and paper and printing products. Import products from Bhutan include wood and products, soap, cosmetics, medical products, fruits and vegetables, and fabrics.
