Indian businesses can use Thailand’s Eastern Economic Corridor as gateway to Asian market
New Delhi, Mar 27 (KNN) Indian businesses can use Thailand’s Eastern Economic Corridor (EEC) as gateway to Asian market, said the official from the Thailand Board of Investment.
Executive Director of International Affair Bureau, Board of Investment, Thailand, Bussarakum Sriratana made the above remarks at a roundtable discussion on ‘Thailand 4.0 and Business Opportunities for Indian Partners’.
The event was jointly organized by MVIRDC World Trade Center Mumbai and All India Association of Industries (AIAI).
Sriratana has invited Indian businesses to explore commercial opportunities in this corridor, as EEC is being positioned as a gateway to the Asian market.
The 13,000 sq km EEC will be the future economic and logistics hub of Asia. The project is being developed as part of the ambitious Thailand 4.0 initiative.
Speaking on the occasion, Sriratana said, “Thailand’s Board of Investment is keen to promote not only Indian investment in Thailand but also the entry of Thai companies in India,” at a roundtable discussion on ‘Thailand 4.0 and Business Opportunities for Indian Partners’.”
Commenting on the Thailand 4.0 initiative, Sriratana said, “Thailand seeks the partnership of India, especially the business community of Maharashtra, to transform its country into an innovative society under its ambitious Thailand 4.0 initiative. EEC will be the Metropolis of Future with world class economic zone. Over the next five years, this corridor will attract USD 43 billion worth public and private investment on various sectors, including up gradation of three international airports and three deep-sea ports.”
The EEC encompasses three eastern provinces of Chachoengsao, Chonburi and Rayong, with Wangchan Valley in the Rayong province acting as the centre of the Eastern Economic Corridor of Innovation (EECi).
Sriratana invited Indian exporters and importers to the region’s largest food and beverage trade show ‘THAIFEX – World of Food Asia’, which is scheduled from May 28-June 1, 2019 at Bangkok.
Earlier in his remarks, Consul General of Royal Thai Consulate General, Mumbai, Ekapol Poolpipat said, “In the next few years, EEC will be transformed into a full-fledged integrated logistics and transport hub with huge potential for investment in petrochemicals, automotive, aviation, advanced manufacturing, biotechnology, agro processing, electronics, robotics and advanced manufacturing.”
Delivering welcome address on this occasion, Senior Director, MVIRDC World Trade Center Mumbai, Rupa Naik said, “India’s economic and cultural relations with Thailand dates back several centuries. Bilateral relationship between both the countries received renewed momentum with India’s Act East Policy and India’s free trade agreement with Thailand and ASEAN.”
“I am confident that Thailand 4.0 project and India’s Make in India and Digital India programmes will take this relationship to new heights. I suggest Board of Investment Thailand to facilitate the setting up of World Trade Centers along its Eastern Economic Corridor to promote cross-border trade and investment,” she added.
The roundtable discussion was attended by delegates from agro-processing, chemicals, aviation, automobiles, tourism, power transmission and other sectors, including consultancy organizations.
The event generated useful interaction between senior officials from Board of Investment, Thailand and the participating delegates. (KNN/JM)