Economic experts from Pakistan and Thailand would meet soon to discuss the possibility of having a Preferential Tariff Arrangement between the two countries which may lead to a Free Trade Agreement (FTA).
A joint statement released at the end of Prime Minister Mir Zafarullah Khan Jamali's official visit to Thailand said Pakistan and Thailand would fully utilise the mechanism of the Joint Economic Commission (JEC) to work for expansion of trade and business ties.
The talks, focussed on having closer economic ties, agreed to set up a Joint Study Group to discuss Preferential Trade Arrangement and the possible benefits of FTA. Both sides also agreed for more frequent exchange of trade missions to explore the potential of either market.
The talks between Prime Minister Jamali and his Thai counterpart Thaksin Shinawatra decided to expedite conclusion of the Agreement on Promotion and Protection of Investments.
Both agreed to support the private sector establish joint ventures in promising areas such as textiles, leather goods, electronics, automobile industry, food processing, fisheries, infrastructure development projects, construction, telecommunication and financial services.
Aviation was identified as another area where the two countries can co-operate to promote tourism. Prime Minister Thaksin appreciated the rich Buddhist heritage in Pakistan and lauded Pakistan's efforts to preserve it. They also agreed to work closely on combined destinations to promote tourism.
Pakistan and Thailand also decided to promote co-operation in science and technology and agreed to soon set up a joint research fund within the framework of the MoU on Scientific and Technological co-operation.
Thailand was also appreciative of Pakistan's decision in principle to accede to the Treaty of Amity and Co-operation and maintained support to Pakistan's participation in the ARF.
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