Thailand, India agree to speed up FTA talks

BANGKOK - Thailand and India have mutually agreed to speed up talks to achieve the establishment of a Free Trade Area Agreement (FTA) between the two countries as soon as possible, Thai News Agency reported on Friday.

The FTA was part of the agenda raised during bilateral talks between Thai Prime Minister Yingluck Shinawatra and visiting Indian Prime Minister Manmohan Singh who arrived in Bangkok on Thursday for a two-day official visit as guest of the Thai government.

The two leaders believed that when the FTA was concluded, it would lead to more and continued growth in trade and investment between the two nations.

During the meeting at the Government House, Yingluck invited Indian investors to invest in the Thai-promoted Dawei deep-sea port and special economic zone in southern Myanmar to help link the Association of Southeast Asian Nations to South Asia and other countries and regions in the Pacific Ocean.

On the occasion, Thai and Indian prime ministers also witnessed a signing ceremony of seven agreements including an extradition treaty and a memorandum of understanding (MoU) on exchanging information related to financial transactions in order to counter money laundering.

Singh also presented a "Maha Bodhi" Holy Bodhi tree sapling for King Bhumibol through the prime minister. The "Maha Bodhi" tree is considered sacred by the Buddhists.

The visit has also emphasised closer relations between Thailand and India as well as the "Look West" policy of Thailand and "Look East" policy of India respectively.

Singh left Thailand Friday morning from Don Muang Internationl Airport in Bangkok.