Commerce Ministry to sign ASEAN-India FTA

Wednesday, 09 July 2014 By  NNT

BANGKOK, 8 July 2014 – At the National Council for Peace and Order (NCPO) daily press conference at government house today, Ms. Chutima Bunyapraphasara, Permanent Secretary of the Ministry of Commerce announced that the NCPO has agreed to allow the commerce ministry request to sign an agreement at the upcoming ASEAN economic ministers meeting in Naypyidaw, Myanmar between 24-26 August. 

Ms. Chutima revealed at the ASEAN Economic Ministers Meeting 2014 a free trade agreement is set to be signed between ASEAN countries and India concerning investment and services. Indian investors will be protected under the Thai law once they come to invest in Thailand, but can not hold more than 49% of the shares. Currently ASEAN rules allow 80 types of businesses or workers from India to come and invest in or work in Thailand in industries related to pharmaceuticals, secondary level education, travel and research investments services, for example.

Ms. Chutima said that an additional 24 occupations will be added after the agreement has been signed bringing the total from 104 to 128 types of jobs or business that are available for Indians to take part in.

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