Thailand is ready to forge ahead in new negotiations with India for a tariff reduction across many product items under the Thailand-India Free Trade Area framework late this month, the Thai News Agency reported Monday.

Trade Negotiations Department director-general Chutima Bunyaprapasara was quoted as saying that the negotiation teams of both countries are scheduled to meet in southern Thailand's resort province of Phuket late this month to discuss in detail the entry of more than 5,500 products on a list of goods whose tariffs are set to be reduced to zero under the Thailand-India FTA.

Last year, Thailand and India had mutual trade value of around 3.4 billion U.S. dollars.

Chutima Bunyaprapasara said she believed the two countries' trade would rise further if both countries agree on tariff reduction to zero in thousands of production items.

Thailand's key exports to India include plastic pellets, radios, TVs and parts, steel and iron products, and automobile accessories, while Thailand imports diamonds and jewelry, silver ingots, gold, ore, metal, and chemical products.

Thailand and India signed a free trade agreement in 2003 under which the import tariffs for 82 products reduced, beginning in September 2004.

Source: Xinhua