Comments
The Indian Chamber of Commerce and Industry Coimbatore (ICCIC), Coimbatore District Small Industries Association (Codissia) and India-Thai Chamber of Commerce (ITCC) on Tuesday inked an agreement to promote bilateral economic relations by providing a platform for business meets and exploring business opportunities for mutual growth between the two countries.
The parties to the agreement have agreed to develop strong institutional trade between India and Thailand, exchange information and general economic status, taxation, investment opportunities, trade policies and legislative changes of their respective countries to strengthen ties, assist each other in trade promotional events, act as a platform to understand the rich culture, heritage and history of the two countries and assist each other in development of pilot projects in the MSME sector.
‘Historic pact’
Vanitha Mohan, President, ICCIC, termed the agreement a historic one as it would be the Chamber’s first step in the international arena.
R Ramamurthy, the newly elected president of Codissia, said it would open opportunities for the Indian MSMEs to explore business potential in Thailand.
SS Phool, President, ITCC invited the industrialists here to visit Thailand, study the potential for setting up a manufacturing plant there. “Investing in Thailand is comfortable with single window clearance,” he said.
“We will set up a help-desk to guide and assist prospective investors on the procedures and other formalities towards establishing a facility in Thailand,” he added.
He later told reporters that the Thai government offers sops like tax holiday for three years, issues special visa and work permit and facilitates procedures and licence issuance norms through single window and, above all, interest rate is low.
More agreements
While ITCC is looking at inking more such agreements to strengthen ties and trade relationship with associations, it has proposed to have similar ties with Asean and BRIC countries during the current year, he said.
“We have signed an MoU with the Kolkata Chamber of Commerce. This is working well. A lot can be done through such ties,” he added.
D Devadas, past president, ITCC, who is said to have been instrumental in bringing about such a tie-up said the Chamber is trying for a Tamil Chair at one of the universities in Thailand.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.