September 26, 2019: Jurin Laksanawisit, deputy prime minister and minister of commerce of Thailand will sign a memorandum of understanding (MoU) with Bigbasket, India’s online grocery store in November.
The announcement was made in Mumbai during the Thai-Indo Business Networking (TIBN), a trade networking platform organised by the department of international trade promotion (DITP) and ministry of commerce, Thailand.
The agreement will see Bigbasket promoting Thai products through Thai flagship stores on its platform.
The event also witnessed the launch of Agri-Trade Supply Chain Alliance (ATSCHA), which will ease the trade relations and increase trade commodity supply between both the countries.
Thailand’s service sector can supplement India’s capabilities in areas such as agro-logistics and shipping services, distribution and warehousing, construction and interior decoration and hospitality services, which will have positive impacts on SMEs (small and medium enterprises) and the local economy.” He also ensured that the Thai government can assist the Indian investors in case of any issues they face while foraying into the market.
The country is an export-oriented economy with exports accounting for around 65 percent of the GDP.
