Photos courtesy of Bangkok Post and EPA
Thailand and Sri Lanka have plans to boost the volume of bilateral trade to US$1 billion (around 35 billion baht) by next year, authorities say.
Read the following story from the Bangkok Post to learn more about the plans.
The issue of trade was raised at a meeting between Prime Minister Prayut Chan-o-cha and Sri Lankan President Maithripala Sirisena at Government House on November 2.
TIGHTER RELATIONS
The Sri Lankan president was on a four-day visit to Thailand to mark the 60th anniversary of diplomatic ties between the two countries.
Trade between the two countries has averaged $536 million (18.7 billion baht) for the past three years. The figure last year was $545.3 million (19 billion baht), with Thailand enjoying a surplus of $361 million (12.6 billion baht).
Sri Lanka is Thailand's fourth-largest trade partner in South Asia after India, Bangladesh and Pakistan.
JOINT DEVELOPMENT
Speaking after the meeting, deputy government spokesman Weerachon Sukhondhapatipak said the countries are committed to jointly developing products or industries where both nations have expertise, such as gems, textiles and tea.
Cooperative approaches would help reduce unnecessary rivalry and foster alliances with other countries in the industry, he said.
Weerachon said the countries agreed to work together on agriculture and fisheries in both academic and commercial spheres.
Thailand and Sri Lanka, both mainly Buddhist countries, also aim to develop religious tourism together, he said.
PIRATE BAY
Regarding military and security cooperation, the countries have worked closely in military training and information sharing amid regional security challenges, including piracy.
Deputy Prime Minister Somkid Jatusripitak said the two countries have the potential to turn cooperation to their advantage, particularly in the tourism, construction, agriculture, industry and fishery industries. He said he is ready to take Thai companies to Sri Lanka to seek trade and investment opportunities.
Sri Lanka is interested in Thailand's expertise in the fishery, tourism, pharmaceutical and energy industries, and Thailand is ready to share its experience on how to develop local economies through special economic zones and the One Tambon One Product (OTOP) scheme, he said.
Exercises
Read the story and decide whether the following statements are true or false.
1. Weerachon Sukhondhapatipak is Minister of Finance.
……………….
2. The Sri Lankan president was on a five-day visit to Thailand to mark the 50th anniversary of diplomatic ties between the two countries.
……………….
3. Last year’s trade between the two countries was $545.3 million (19 billion baht).
……………….
4. Sri Lanka is interested in Thailand's expertise in many industries, including fishery and tourism.
……………….
Vocabulary
- diplomatic (adj): connected with managing relations between countries
expertise (n): expert knowledge or skill in a particular subject, activity or job
piracy (n): the act of making illegal copies of video tapes, computer programs, books, etc., in order to sell them
