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Thailand Interested in Exploring Trade and Investment Opportunities in Bhutan

April 29, 2014 Destination Thailand No Comments Email Email

Thailand and Bhutan are moving closer together to boost cooperation in various areas. The Thai private sector is interested in exploring trade and investment opportunities in Bhutan, especially in construction work.

The private sectors of both countries have agreed that their respective governments need to encourage exchanges of visits to increase the volume of trade and investment.

The Construction Institute of Thailand is leading members of the Thai private sector to Bhutan from 22 to 26 April 2014 to meet their Bhutanese counterparts and explore opportunities. The visit came after the Permanent Secretary for Foreign Affairs of Thailand, Mr. Sihasak Phuangketkeow, attended the second Thai-Bhutanese Annual Bilateral Consultations in Thimphu, Bhutan, on 17-19 April 2014.

The Permanent Secretary reaffirmed Thailand’s readiness to increase its technical cooperation with Bhutan in the areas in which Thailand has best practices and suits Bhutan’s development needs. These areas involve capacity-building in agriculture, education, health, tourism, and commercial aviation.

The Bhutanese side thanked Thailand for its past cooperation, saying that it wishes to expand further cooperation to cover new areas, as well, such as information technology, urban planning, and the development of international airports.

Thailand and Bhutan signed an Agreement on Agricultural Cooperation in 2011. Later, on 14 November 2012, they signed an Agreement on Trade and Economic Cooperation. In 2012, trade between the two countries amounted to 15.5 million US dollars. It increased significantly, by 66.45 percent, in 2013.

About 3,600 tourists from Thailand visit Bhutan each year, whereas Thailand welcomes 22,000 Bhutanese tourists who visit Thailand for leisure activities, medical services, and shopping.

Thailand and Bhutan established diplomatic relations on 14 November 1989. They will celebrate the 25th anniversary of their diplomatic relations in 2014. The Ministry of Foreign Affairs will coordinate closely with the Royal Bhutanese Embassy in Bangkok to jointly consider a special event to commemorate this important event in November, the anniversary month.

Thailand expressed its appreciation for Bhutan’s initiative, called the “Special Package,” designed especially for Thai tourists interested in visiting Bhutan between June and August 2014. Bhutan was also informed of the matching cultural activities, to be organized by the Royal Thai Embassy in Dhaka, such as the making of commemorative stamps and a Thai cultural show in Bhutan.

The royal families of both countries have regularly been exchanging visits, which have further strengthened relations between the two countries.

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