FRIDAY, March 29, 2024
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Thailand, Bhutan firm up cooperation in trade, investment and tourism

Thailand, Bhutan firm up cooperation in trade, investment and tourism

Deputy government spokeswoman, Ratchada Thanadirek on Tuesday reported the results of the third joint trade commission (JTC) between Thailand and Bhutan, which was held in the Bhutanese capital of Thimphu on September 26 and 27.

“The trade between the two countries has expanded continuously, going from US$4 million (around Bt120 million) in 2014 t$39.75 million in 2018. Thailand and Bhutan aim to expand their trade value to $50 million by 2021,” she said.
Ratchada added that Thailand is ready to support products exported from Bhutan by according Duty Free Quota Free privileges covering some 7,000 agricultural and industrial products.
Moreover, Thailand has invited Bhutanese entrepreneurs to join annual international exhibitions in Thailand, namely, the lifestyle product fair STYLE Bangkok Fair and the food product exhibition THAIFEX.
In terms of economic collaboration, Thailand is ready to support negotiations to promote the cooperation between the two countries’ tourism industry, especially the “Two Kingdoms One Destination” project and the sustainable development of tourism.
In addition, Thailand is glad to support Bhutan in handicraft knowledge as part of the Memorandum of Understanding (MOU) signed between The Support Arts and Crafts International Centre of Thailand (Sacict) and the Ministry of Domestic Industry of Bhutan.
Bhutan is currently working on the development of an industrial estate area and dry port in order to attract direct investment from foreign countries while facilitating customs procedures for exports and imports.
“Bhutan has shown interest in coordinating with Thailand on this matter,” said the deputy spokesman. “We have asked for further information on investment rules and investment promotion projects, which we will then pass on to Thai investors.”

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