Thailand and Bhutan to boost bilateral trade and investment
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Prime Minister Yingluck Shinawatra and Bhutan's Prime Minister Lyonchhen Tshering Tobgay Thursday witnessed the signing of a trade and economic cooperation pact.
During his first official visit to Thailand the Bhutanese prime minister also looks to enhance the bilateral relations as well as human resource development. Thailand and Bhutan's diplomatic relations have been continuing for 24 years, since November 14, 1989.
Yingluck assured him that Thailand is ready to assist Bhutan in all areas.
According to the Thai government's web site, in 2012 trade between the two countries were tuned at US$15.5 million.
Yingluck urged her counterpart to share information on investment to Thai companies, particularly those involved in infrastructure and tourism.
Meanwhile, the Bhutanese prime minister expressed his wish to welcome more Thai tourists to his country, which now welcomes about 3,600 tourists a year against 22,000 Bhutanese visitors to Thailand. These visitors chase for leisure activities, medical services and goods.
Bhutan's population is 700,000.
Deputy Prime Minister and Commerce Minister Niwatthumrong Boonsongpaisan said that under the agreement, Thai companies will be given a wider door to reach countries having trade relations with Bhutan. Bhutan now has free trade agreements with several countries like India, Bangladesh and Pakistan. With manufacturing plants in the country, Thailand can export products to others.
Another opportunity lies in the power sector, as Bhutan plans to triple its power generating capacity from 10,000 megawatts now.
