ISLAMABAD: Thailand will invest in food technology, fisheries and gems sectors in Pakistan to further enhance bilateral trade volume.
A delegation of Thailand Trade Representative (TTR) apprised this to Chairman Board of Investment (BoI) Saleem H. Mandviwala during a meeting held here on Tuesday.
Pichate Satirachaval, the TTR, along with Ambassador of Thailand in Pakistan Marut Jitpatima and Pakistan's Ambassador in Thailand Sohail Mahmoodwere the part of the delegation.
The head of the delegation apprised that Investment from CP Group, the largest food group in Asia and major Thai conglomerate, is interested to invest in food technology, fisheries and gems sectors in Pakistan.
The company has recently visited Pakistan to do land survey and prepare for feasibility study for feed mill, breeder farm, and hatchery and broiler farm.
They are now finalizing their investment once all the land sites are identified and tax facilitation is granted. Thai Urethane, a Thai company, has recently started a power plant in Pakistan with the investment of USD 8-10 million.
"The two countries have enjoyed cordial relationship for a long time. This year was the 60th year of establishment of the diplomatic relationship between the two countries", the Chairman BoI said.
He suggested that EXIM Bank Thailand can facilitate bilateral trade and investment between the two countries with opening of bank branch in Pakistan.
He further said that Thailand can support us in the processing of foods to increase the shelf life of the fruits and vegetables.
"The exports of fruits can be increase by increasing shelf life of the fruits because 35 per cent fruits and vegetables are wasted due to unavailability of advanced technology in Pakistan", the Chairman added.
Cooperation in the Halal Sector has recently been facilitated between University of Agriculture Faisalabad and the Halal Science Center Thailand.
In addition, an MOU between the Asian Institute of Technology (AIT) and University of Veterinary & Animal Sciences (UVAS) Lahore-Pakistan has also been finalized to cooperate in food technology.
Bilateral trade volume in 2010 was US $916 million, whereas this year total trade is approaching US $ 1 billion. The trade over last two years has already increased by about 25 per cent.
The main products that Pakistan exports to Thailand in 2010 are yarn and fibbers, fresh aquatic animals, chilled, frozen and textile, Thailand main exports to Pakistan in 2010 include motor cars, parts and accessories, sugar, chemical products and polymers of ethylene, propylene, etc in primary forms respectively.
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