India and Thailand are optimistic of the bilateral trade between the two economies touching $10 billion by the end of 2012. The two countries are looking at a series of investments in different sectors, including infrastructure and food processing.

“Rapid economic engagement between the two countries paved the way for economic liberalisation, and the implementation of the Early Harvest Scheme led to robust growth. Bilateral trade between India and Thailand has grown six-fold in the past decade and touched $6 billion last year, growing at over 30 percent from the previous year,” Anand Sharma, Union Minister for Commerce and Industry, said in a meeting with Thai Prime Minister Abhisit Vejjajiva on 5 April.

Agreeing with Sharma, the Thai Prime Minister said, “Thailand’s Look West Policy sets the stage in consolidating our substantive bilateral engagement. The past decade has seen a considerable expansion in our economic and political ties with the exchange of several high-level visits from both sides, underscoring our mutual commitment for elevating the economic engagement.”

While inviting Thai business houses to invest in India, Sharma said, “Enhancing the share of the manufacturing sector in the GDP is a priority for India. Thailand can help in this regard, as they have a proven expertise in this area and also managed to have a high share of manufacturing in their GDP.

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