Telangana’s department of Industries and Commerce and Thailand’s Ministry of Commerce have agreed to collaborate for promoting bilateral trade and investment through greater cooperation in the areas of SMEs (small and medium enterprises) and startups.
As a first step, they have signed a memorandum of understanding seeking to strike synergies, for SMEs and startups, through innovation eco-system enabler T-Hub, Telangana State GlobalLinker and Thaitrade.com of Thailand.
Telangana Industries Minister K.T. Rama Rao and Thailand Deputy Prime Minister and Commerce Minister Jurin Laksanawisit were virtually present during the signing of the MoU by Industries Secretary Jayesh Ranjan and Permanent Secretary to Thailand Ministry of Commerce Boonyarit Kalayanamit.
Both governments will explore the possibility of potential trade and investments in several sectors, especially agro-based food processing, wood processing and wood-based industry. The MoU comes in the backdrop of the 75th anniversary of diplomatic relations with Thailand-India. Also, it is the first time such an agreement has been signed between a State government in India and the Thailand Commerce Ministry, a release from Mr.Rama Rao’s office on Tuesday said.
