Thailand, Iran Target Trade of $1.2bn

Thailand and Iran are aiming to boost trade between the countries to US$1.2 billion in three years, up from $300 million in 2014.

The Thai government has just sent its first mission to Iran, meeting with key economic ministries – Trade, Petroleum, Roads and Urban Development, and Industry.

The Nation quotes Thai Deputy Commerce Minister Suvit Maesincee as saying that the two countries had great opportunities to strengthen trade and investment, and cooperate in the tourism industry:

“Thailand is being considered as a source of food for Iran and a gateway to Asean markets, particularly Cambodia, Laos, Myanmar and Vietnam, while Iran could be a gateway for Thailand to penetrate the Middle East market.”

Each year, about 100,000 Iranians travel to Thailand;

The Thai government will speed up the approval of visas for the 100,000 Iranians who travel to Thailand each year, while the Central Bank of Iran and the Bank of Thailand are developing banking and financial-transaction systems to facilitate easier payments.

After 53 Thai companies participated in a business-matching function with Iran, $7.2 million worth of immediate purchase contracts were agreed.

(Source: The Nation)

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