Closer trade ties between India and Thailand’s wood industry with signing of MOU

Despite the poor prospects for exports, Thailand remains hopeful that exports to India will grow by 8 per cent this year, reported Bangkok Post.

Commerce Minister Jurin Laksanawisit, led a Thai delegation to Mumbai and Chennai from 24 to 28 September said Thai products remain promising in India for food, cosmetics, furniture and decorative segments.

On 25 September, Mr Jurin presided over the signing of the three memorandums of understanding between Thailand and India, between the Thai Hevea Wood Association and the Association of Furniture Manufacturers & Traders (India); the Thailand-India Business Council and Global Linker; and the Thailand-India Business Council and Bombay Industry Association.

“Thailand is looking for more business cooperation and strategic partnerships with India, particularly during the global economic slowdown,” said Mr Jurin.

“We are ambitious about diversifying into non-food items such as rubberwood, rubber tyres, tapioca, construction and cosmetics products.”