New Thai trade talks ’needed’
Gulf Daily News | Sunday 20th May 2007
New Thai trade talks ’needed’
By Geoffrey Bew
A PROPOSED Free Trade Agreement (FTA) between Bahrain and Thailand has stalled because of the intervention of other GCC countries, officials confirmed yesterday.
Thai Ambassador Phithak Phrombubpha said a new set of negotiations were required before the agreement could be finalised, but is confident talks would begin soon.
He declined to go into details, but said Bahrain had to comply with the rules and regulations of the GCC.
The adviser to Thailand’s Deputy Minister of Foreign Affairs, Poksak Nilubol, confirmed a multi-national agreement was needed to finalise the agreement.
"The GCC would like to have an FTA as a group," he said.
"It is possible and we will certainly be ready to have discussions in the near future."
Mr Nilubol is in Bahrain as part of a meeting of senior Thai diplomats from across south Asia, Middle East and Africa region to discuss investment opportunities.
He is leading a delegation of more than 50 officials and representatives from the public and private sectors will exchange views about Thai economic strategies and how to implement them.
The event is one of a series of activities taking place this year to celebrate the 30th anniversary of diplomatic relations between Bahrain and Thailand.
Officials revealed that total trade between Bahrain and Thailand had doubled since 2004 and was worth $342,516,598 (BD129,471,274) last year.
"Apart from speaking at the workshop, representatives from the Thai private sector are scheduled to meet their counterparts in the Bahrain private sector to explore ways of further boosting the bilateral co-operation, not only in the field of economics, trade and investment, but hopefully education healthcare and tourism also," said Mr Phrombubpha.
Thailand already exports automobile parts, air-conditioning units, electrical appliances and foodstuff to Bahrain and Mr Nilubol believes there are several areas of potential co-operation between the countries waiting to be developed - such as the energy sector. The diplomat’s four-day visit began at the InterContinental Regency Bahrain yesterday. Thailand has around 28 diplomatic missions in the Africa, Middle East and South Asia regions.
