VISAKHAPATNAM : As the 17th largest manufacturer and 24th biggest economy in the world in terms of purchasing power, Thailand has immense potential for investments in various sectors. India and Thailand have many common features and there is a need for flight connectivity between Vizag and Bangkok to facilitate bilateral trade between the two nations, Royal Thai Consulate-General consul general Somsak Triamjangarun felt.
Addressing meeting on ‘Investment and Trade Opportunities in Thailand’ organised by the Vizag chapter of Confederation of Indian Industry (CII), here Friday, Somsak said that Vizag was very close to Thailand, but there was no direct flight connectivity. “I will recommend introducing a direct or a hop-over flight from Vizag to Bangkok. We are impressed with the facilities at Visakhapatnam Special Economic Zone (VSEZ) and feel that there is great potential for mutual business opportunities.”
The Thai delegates agreed to take up the issue of flight connectivity with the authorities concerned. Giving a presentation on the sectors, which were given priority by the Board of Investors from India in Thailand, Thailand Board of Investment (Mumbai) director Kanokporn Chotipal said that the priority sectors would be eligible for total tax exemption. “The Board is also extending support services like issuing of Visas and work permits, and facilitating interaction with government agencies. The work permits would be issued in three hours,” she explained.
Royal Thai (Chennai) deputy consul general (Commercial) Tharadol Thongruang recalled the historical and cultural links between India and Thailand. The two countries signed two agreements under which 82 products were exempted from customs.