(MENAFN) Pakistan and Thailand agreed to double trade between the two countries in five years and emphasized the need to balance trade to boost Pakistan"s exports to Thailand, Xinhua reported.
Prime Ministers of both countries said that trade between their countries surpassed USD1 billion in 2011 and that there is a need to maintain and further improve trade.
A joint statement said: "The two prime ministers underlined that expansion of bilateral trade and economic relations remained a high priority. This may include diversification of trade between the two countries to include trade of other products and services such as processed food and food products, especially Halal products."
A Memorandum of Understanding (MoU) on the Establishment of Joint Trade Committee, a MoU on the Establishment of Joint Business Council and a Mutual Exemption of Visa Requirements for Holders of Diplomatic Passports were signed by both parts.
They also talked about establishing a bilateral Free Trade Agreement under the Joint Trade Committee.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.