The India-Thailand Free Trade Agreement (FTA) has been in place since 2004, and it has helped promote trade between the two countries. The FTA covers a wide range of goods, including agricultural products, textiles, automobiles, and electronics. In addition, it has facilitated the movement of skilled professionals between the two countries.
Recently, the India-Thailand FTA has been in the news due to the release of a new version of the agreement in PDF format. This updated document includes amendments made to the original FTA to enhance bilateral trade and investment.
The new PDF version of the India-Thailand FTA includes updated and improved trade rules, which are expected to improve market access and reduce trade barriers for both countries. The updates also include provisions for intellectual property rights, e-commerce, and trade facilitation.
One of the significant changes in the updated FTA is the increase in duty-free access to certain products. Thailand has agreed to reduce tariffs on 4,744 product lines, including agricultural products, gems and jewelry, and textiles. In return, India has agreed to lower tariffs on 3,088 product lines, including fruits and vegetables, processed foods, and textiles.
The updated FTA is also expected to boost investment between the two countries. It includes provisions for the protection of investors and investments, as well as rules for the resolution of disputes. Indian investors are expected to invest more in the Thai economy, particularly in the sectors of automobiles, food processing, and renewable energy.
Overall, the new PDF version of the India-Thailand Free Trade Agreement is a significant milestone for both countries. It is expected to enhance bilateral trade and investment and provide more opportunities for businesses and consumers. The revised agreement also shows the commitment of both India and Thailand to strengthen their economic ties and continue to work towards mutual prosperity.
