Thailand to expand businesses into 3i markets

BANGKOK, January 14 (TNA) - Thailand is expanding businesses into the so-called "3i" markets, including India, Indonesia and Iran. Delivering a speech at a seminar in Bangkok on Thursday, Thai Deputy Commerce Minister Suvit Maesincee noted that his ministry plans to boost Thailand's value of trade with Iran, in particular, to 5 billion US dollars over the next five years. Suvit said Thailand should be able to raise the value of annual trade with Iran from 300 million US dollars now to 5 billion within five years, as the United Nations is expected to end sanctions against Iran in the near future, which should be a good opportunity for Thailand to expand businesses into the large Iranian market. Suvit acknowledged that the Thai government considers Iran as an important market and trade promotion with the Gulf nation will begin with government-to-government deals. According to the deputy commerce minister, he and Thai Foreign Minister Don Pramudwinai are scheduled to visit Iran next week to promote bilateral businesses, covering the promotion of Thai exports and more investment of Thai small and medium-sized enterprises (SMEs) there. The deputy minister expressed his hope that Thailand could export more rice to Iran and Thai business operators could also help develop Iranian tourist destinations, residences and ports, while Iran’s oil and gas could support energy security in Thailand. About 100,000 Iranian travelers reportedly visit Thailand yearly and their demand for tours in Thailand has been increasing. (TNA)