Telangana Government to extend all support for Thai firms
8th September 2022, Hyderabad/ Bangkok : In view of the progressive business environment prevailing in the state of Telangana by the pro-active government , coupled with ease of doing business, Thailand firms evinced keen interest in investing in the state of Telangana. This was stated during the visit of Telangana trade to Thailand led by FTCCI to explore trade opportunities between Thailand and the state of Telangana.
A 30+ trade delegation led by FTCCI is visiting Thailand on the invitation of the Thai Chamber of Commerce and Board of Foreign Trade and Investment, Board of Trade of Thailand. The visit is aimed at exploring both trade and investment opportunities in Thailand. As well as share details of opportunities in the state of Telangana.
FTCCI also signed a MoU with the Thai Chamber of commerce today. The main objective of the MoU is to help facilitate and promote trade and investment between both economies. The MoU were exchanged between Mr. Phairush Burapachaisri, Vice Chairman of the Thai Chamber of Commerce and Mr Anil Agarwal President FTCCI in the presence of Ms. Supawadee Yamgamol, Director of Overseas Market Development; Mr. Nitirooge Phoneprasert, Consul General, Royal Thai Consulate-General, Chennai;
Speaking on the occasion Anil Agarwal, President FTCCI said “ It is indeed a great pleasure signing an MoU with Thai Chamber of Commerce today and taking our relationship further.”
Explaining further, Anil added, “While recovering from the pandemic, this MoU will play a pivotal role in our trade relations and bring a new change. This Change offers unprecedented opportunities for fresh thinking in business. Change is the fuel that entrepreneurial companies need this time”
Phairush Burapachaisri, Vice Chairman of the Thai Chamber of Commerce said “Its indeed a pleasure to exchange MoU with FTCCI. We are confident that this understanding will pave way for many more investment opportunities in both the regions”
Thai trade was keen to explore Agri, Canned Food, Food processing; dairy sector and meat processing & Furniture sectors in Telangana.
Mr Chakravarthi AVPS Chairman – International Trade & Business Relations said “ I am Happy to say that the trade relations between India and Thailand, the second-largest economy in the Southeast Asian economic group, ASEAN, has grown by leaps and bounds in the last two years.”
Furthermore Chakravarthi said, “The latest trade data released by the Indian Embassy in Bangkok, Thailand – trade between the two nations since 2016, has grown at least 60 percent. We are in Thailand to explore business opportunities, source raw materials, and collaborate with your companies for the business development from both the sides”
FTCCI on behalf of Telangana government pitched to Thai furniture companies to set up manufacturing units in Telangana either directly or through JVs.