KARACHI: The Ambassador of Thailand to Pakistan Rongvudhi Virabutr has called for concluding the free trade agreement (FTA) between Thailand and Pakistan and urged the Karachi Chamber of Commerce & Industry (KCCI) to push the government to finalise the FTA as soon as possible, which would certainly help in further improving the existing trade ties between the two countries.
During a visit of KCCI, the Thai Ambassador said that although negotiations have been suspended for some time, finalising the FTA was his top priority. “We urge the business community in Karachi, particularly KCCI, to advocate for the timely conclusion of the FTA. While Pakistan has faced challenges with trade deficits in previous FTAs, it is important to recognise that these agreements extend beyond goods trading and include services and investment — key areas where both nations can benefit”, he added.
According to the KCCI statement, the ambassador also shared his ambition to increase the Thailand-Pakistan trade volume from its current value of $1.1 billion to $2 billion. He pointed out that trade between the two countries had previously reached $1.8 billion before the Covid-19 pandemic, making a target of $2 billion achievable with concerted effort. “We can identify new sectors for cooperation and stimulate activities that will boost bilateral trade”, he added. On the topic of bilateral trade, the ambassador mentioned that Pakistan’s exports to Thailand currently stood at around $150 million, with a trade balance in favour of Thailand. However, he emphasised that there is potential to increase exports to Thailand, particularly in the pharmaceutical, seafood, chemicals and cement sectors. He noted that approximately 60 per cent of Pakistan’s economy is driven by the services sector, which presents a wealth of opportunities for collaboration. “While manufacturing is a critical aspect of trade, we must also look towards the services sector when seeking to expand our trade relationship”.
Furthermore, the Thai envoy emphasised Thailand’s support for electric vehicles (EVs), which are becoming increasingly popular in the Thai automotive market. He suggested that Thailand could assist Pakistan in developing its EV industry by sharing expertise and technology.
Highlighting Karachi’s pivotal role in bilateral trade, he said, “Karachi serves as the primary hub for trade between our two nations, with many of the businesspeople engaged in trade with Thailand also being members of this esteemed Chamber. This underscores our strong desire to engage with KCCI, which represents a significant segment of Karachi’s business community”.
The ambassador also touched on the importance of reducing the cost of doing business, particularly through innovations like the Asean Single Window system -- a paperless platform for customs clearance within Asean countries. “We believe this system could be extended to trade partners of Asean, including Pakistan, to reduce business costs. Pakistan’s FTA with Malaysia makes you people eligible to benefit from the Asean single window paperless clearance system”.
He proposed organising an Asean trade fair in Karachi, where buyers and sellers from Pakistan and Asean countries could meet to explore business opportunities. “Karachi is an ideal location for such an event, given its central position and strategic importance”.
Speaking on the occasion, Consul General of Thailand in Karachi Surashete Boontinand announced the introduction of an e-visa facility that allows applicants to apply for visas to Thailand online, eliminating the need to visit the consulate in person. “This new facility aims to make it easier for Pakistani citizens to visit Thailand, and we are committed to providing full support to facilitate trade and bilateral relations”, he added.