Total trade was $5.66 billion in the January-Nov 2008 period. This represents an increase in trade of almost 30% over the corresponding period of 2007. Trade figures include $2.49 billion in Indian exports and $3.17 billion in Indian imports. Total trade was $4.73 billion in 2007, with India exports at $2.07 billion and Indian imports at $2.66 billion. Negotiation Mechanisms A trade negotiation committee between India and Thailand was established to discuss the details of the framework agreement and to formulate a free trade agreement and strengthen economic cooperation between the two countries. Expert groups have also been set up to negotiate certain areas of the agreement, such as. B the rules of origin of goods, dispute resolution mechanisms and trade in services and investment. These expert panels report their findings to the trade negotiation committee. The framework agreement covers the liberalisation of trade in goods, trade in services and investment, and the extension of economic cooperation. Bilateral negotiations were then halted, with India having to prioritize its free trade with the Association of Southeast Asian Nations (ASEAN).

The joint working group held four meetings between May and December 2002 and concluded that a free trade agreement would create reciprocal benefits for the development of trade, investment and economic cooperation in areas such as tourism, education, finance and banking, health, aviation and international transport. In addition, Thailand would benefit from increased trade and reduced tariffs on exports to India, including clothing, leather goods, chemicals, rubber, plastics, metals, automobiles and electrical parts and goods. The Free Trade Agreement (FTA) between Thailand and India will grant tax privileges to at least 900 other Thai goods for products that, according to the director general of the Thai Ministry of Trade Negotiations, are subject to “product-specific rules” (PRS) and goods that need rules of origin. Bilateral trade between countries was valued at $4.1 billion in the first half of 2010, an increase of 29% over the previous year. Of the total, Thailand`s exports to India were worth $2.6 billion, while its imports from India were $1.5 billion. Thai representatives, led by Director General Srirat Rastapana, recently travelled to India to meet with their Indian counterparts at the 21st Thailand-India Trade Committee in New Delhi, the capital, to negotiate free trade, services, investment and other economic cooperation between the two nations. Background Like the former Prime Minister of Thailand, Pol. Lt. Dr. Thaksin Shinawatra, who visited India from 26 to 29 November 2001, the heads of state and government of both countries agreed to use economic cooperation in trade and investment and established a joint working group to study the feasibility of creating a free trade area between Thailand and India. The joint working group held four meetings between May and December 2002 and concluded that a free trade agreement would create reciprocal benefits for the development of trade, investment and economic cooperation in areas such as tourism, education, finance and banking, health, aviation and international transport.