18 June 2016 Current Affairs: India and Thailand has decided to ramp up cooperation in the fields of economy, counter terrorism, cyber security and human trafficking besides forging closer ties in defence and maritime security.
The announcement was made here after Prime Minister Narendra Modi held extensive talks with his visiting Thai counterpart General Prayut Chan-o-cha.
The countries have prioritised completion of India-Myanmar-Thailand Trilateral highway and early signing of the Motor Vehicles Agreement between India, Thailand and Myanmar. Following the delegation-level talks, in which also Army Chief Dalbir Singh Suhag was also present, two agreements - Executive Programme of Cultural Exchange (Extension of CEP) for 2016-2019 and an MoU between Nagaland University and Chiang Mai University, Thailand - were signed.
India and Thailand were also maritime neighbours, he said both the countries have agreed to forge a closer partnership in the fields of defence and maritime cooperation. A partnership to meet our bilateral interests and to respond to our shared regional goals.Information Technology, pharmaceuticals, auto components and machinery are some other areas of promising collaboration. We also see early conclusion of a balanced Comprehensive Economic and Partnership Agreement as our shared priority.
Both the countries recognised the importance of bilateral trade and noted that the economic relations are deep rooted in the existing framework, including bilateral Free Trade Agreement, ASEAN India Trade in Goods Agreement and Early Harvest Scheme.
The Prime Minister of Thailand invited Indian investments to Thailand under the cluster development policy, which is a newly initiated program aimed at enhancing investment in focused areas.
The policy will help expand the investment network between the two countries in various mutually beneficial sectors, including information technology, pharmaceutical, automotive parts, chemical products, machinery and parts, bio-technology, and R&D.