Awwal 01, 1432 H/April 05, 2011, SPA -- India and Thailand on Tuesday agreed to double their trade by 2014 and expedite negotiations for a free trade agreement on goods, services and investments, according to dpa. The announcement was made following talks between Indian Prime Minister Manmohan Singh and Thai premier Abhisit Vejjajiva in New Delhi. The two leaders "noted that the bilateral trade turnover had reached 6.7 billion dollars in 2010 and agreed to double the trade volume by 2014," according to a joint statement issued at the end of talks. The premiers directed negotiators to finalize the text of a comprehensive free trade pact by the end of 2011, the statement said. Singh and Abhisit also discussed boosting cooperation in security matters and agreed to initiate talks between their defence ministries. India and Thailand agreed to increase cooperation in various areas, such as education, tourism, culture, space and science technology and disaster management. "Prime Minister Vejjajiva's visit has provided the political impetus and direction for a closer and more broad-based partnership between our countries," Singh said. At a business summit during his day-long visit, Abhisit said, "There is an inexorable force pushing trade and investment between India and Thailand, a force that we must channel towards our comparative advantages." He encouraged Indian investors to see Thailand as a gateway to the 10-nation market of the Association of South-East Asian Nations. Indian companies have invested almost 2 billion dollars in Thailand, while the total Thai investment so far has been about 1 billion dollars, Indian Commerce Minister Anand Sharma said. The Thai leader also met with Vice President Mohammad Hamid Ansari and Foreign Minister SM Krishna.
