In 1982, bilateral trade reached only $59 million (Thailand`s exports to India totalled $36 million and its imports from India at $23 million). After the end of the Cold War, the beginning of rapid globalization and the beginning of economic liberalization in India, total trade between India and Thailand amounted to $5.5 billion. From 2004, the free trade agreement between Thailand and India included trade in goods until 2010. In order to accelerate tariff reductions, the two countries agreed to set up a money-buying information exchange programme (EHS) for 82 goods supplements, whose duties have been reduced to 0% since September 2006 – completely abolished. (b) the quantities and value of accessories, spare parts and/or tools are common business practices for the original product in the exporting party`s domestic market; The joint working group held four meetings between May and December 2002 and concluded that a free trade agreement would create mutual benefits for the development of trade, investment and economic cooperation in areas such as tourism, education, finance and banking, health, aviation and international transport. In addition, Thailand would benefit from increased trade and reduced tariffs on exports to India, including clothing, leather goods, chemicals, rubber, plastics, metals, automobiles and electrical parts and goods. Thai representatives, led by Director General Srirat Rastapana, recently travelled to India to meet with their Indian counterparts at the 21st Thailand-India Trade Committee in New Delhi, the capital, to negotiate free trade, services, investment and other economic cooperation between the two nations. Background Like the former Prime Minister of Thailand, Pol. Lt. Dr. Thaksin Shinawatra, who visited India from 26 to 29 November 2001, the heads of state and government of both countries agreed to use economic cooperation in trade and investment and established a joint working group to study the feasibility of creating a free trade area between Thailand and India.

The joint working group held four meetings between May and December 2002 and concluded that a free trade agreement would create reciprocal benefits for the development of trade, investment and economic cooperation in areas such as tourism, education, finance and banking, health, aviation and international transport. In addition, Thailand would benefit from increased trade and reduced tariffs on exports to India, including clothing, leather goods, chemicals, rubber, plastics, metals, automobiles and electrical parts and goods.