India-Thailand Bilateral Trade A Review against the Backdrop of the Framework Trade Agreement

Abstract

India and Thailand are about to sign a Free Trade Agreement (FTA) by mid 2012 targeted to streamlining the trade relations between the two countries. The Framework Agreement, inked between the countries in 2003 to pilot the FTA process, has been paving an appropriate background for establishing efficient trade relations through setting up a free trade area covering goods, services and investment. The Framework Agreement has also been providing a Protocol for an Early Harvest Scheme (EHS) under which common items of export interest to the sides be identified for the elimination of trade tariffs on a fast-track basis. The paper examines the trade relations between the two countries in terms of trade volumes during the Framework Agreement period in comparison to the period prior to the agreement.