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Thailand is scheduled to sign a memorandum of understanding (MoU) to form deeper trade partners through a so-called mini-FTA with Telangana state in India next month.
Speaking after a meeting yesterday with Indian companies, including members of the India-Thai Chamber of Commerce, India-Thailand Business Association, Thailand-India Business Council and related government agencies, Commerce Minister Jurin Laksanawisit said the two sides agreed to expand cooperation on trade and investment, particularly on the state level. Although Thailand and India have already implemented the Early Harvest Scheme, under which tariffs have been waived since 2004 on 82 items [fruits and vegetables, jewellery and automotive products], deeper trade partnerships with states will help boost the economies of the two entities, said Mr Jurin.