KARACHI, FEB 18 /DNA/ – The Ambassador of Thailand to Pakistan, Rongvudhi Virabutr, while underscoring the need to conclude the Free Trade Agreement (FTA) between Thailand and Pakistan, urged the Karachi Chamber to push the government to finalize the FTA as soon as possible which would certainly help in further improving the existing trade ties between the two countries.
Expressing the intent to accelerate discussion on FTA at a meeting during his visit to the Karachi Chamber of Commerce and Industry (KCCI), Thai Ambassador said that although negotiations have been suspended for some time, finalizing 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 recognize that these agreements extend beyond goods trading and include services and investment—key areas where both nations can benefit”, he added.
Consul General of Thailand Surashete Boontinand, Senior Vice President Zia ul Arfeen, Vice President Faisal Khalil Ahmed, Chairman Diplomatic Missions & Embassies Liaison Subcommittee Ahsan Arshad Sheikh, Former President Majyd Aziz, KCCI Managing Committee Members as well as representatives from the Thai Embassy in Islamabad and Consulate in Karachi were also present on the occasion.
The Ambassador also shared his ambition to increase the Thailand-Pakistan trade volume from its current value of US$1.1 billion to US$2 billion. He pointed out that trade between the two countries had previously reached US$1.8 billion before the COVID-19 pandemic, making a target of US$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 US$150 million, with trade balance in favor of Thailand. However, he emphasized that there is potential to increase exports to Thailand, particularly in the pharmaceutical, seafood, chemicals, and cement sectors etc.
He noted that approximately 60 percent 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, Thai Envoy emphasized 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 organizing 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.
Earlier, Senior Vice President KCCI Zia ul Arfeen, in his remarks, stated that Pakistan and Thailand share a long-standing relationship based on mutual respect, shared principles, and common interests, which have steadily strengthened over the years. “Pakistan can benefit greatly by expanding its trade footprint in Thailand’s key sectors such as the automotive industry, seafood, rubber, and tourism. Strengthening collaboration in these areas will not only boost bilateral trade but also enhance Pakistan’s presence in the broader ASEAN market.”
He noted that despite the significant trade potential between our two nations, Pakistan’s exports to Thailand remain relatively low at around $149 million, while imports from Thailand reached $719 million in FY24. “There is a strong need to address this trade imbalance by exploring new avenues for collaboration. Both countries have expressed a strong commitment to concluding the Thailand-Pakistan Free Trade Agreement”, he said, adding that finalizing this agreement will open new doors for trade expansion and deeper bilateral economic ties.
