Thailand to sign ASEAN-India free trade agreement; will enable the protection of interests of Indian investors

BANGKOK: Thailand today said that Indian investors will be protected under Thai law once they come to invest in the country when the ASEAN-India free trade agreement is signed next month.

Chutima Bunyapraphasara, Permanent Secretary of the Thai Ministry of Commerce said the National Council for Peace and Order ( NCPO) set by the military junta has agreed to allow the commerce ministry's request to sign the free trade agreement at the upcoming ASEAN economic ministers meeting in Naypyidaw, Myanmar next month.

But Indian investors cannot hold more than 49 per cent shares in Thai businesses.

Chutima told reporters that a free trade agreement (FTA) is set to be signed between ASEAN countries and India concerning investment and services.

Currently under ASEAN rules, 80 types of businesses or workers from India are allowed to come and invest in or work in Thailand in industries related to pharmaceuticals, secondary level education, travel and research investments services.

Chutima said that an additional 24 occupations will be added after the agreement has been signed bringing the total from 104 to 128 types of jobs or business that are available for Indians to take part in.