India-Thailand Sign Strategic Partnership Declaration

1. India and Thailand have recently signed a Joint Declaration aimed at establishing a Strategic Partnership between the two nations.
2. While not overly formal, this partnership is rooted in shared objectives, particularly in the areas of security, trade, economy, and technology.

Significance of the India-Thailand Strategic Partnership

1. Shared Interests: Both nations are committed to a free, open, transparent, and rules-based Indo-Pacific. They also emphasize ASEAN centrality, which highlights ASEAN’s role as a driving force in the region's geopolitics and geo-economics.
2. Strategic Location: Thailand, as India’s maritime neighbor, plays a crucial role in maintaining regional peace.
3. Complementary Policies: India’s "Act East" policy and Thailand’s "Act West" policy align well, supporting stronger regional cooperation.
4. Regional Groupings: Thailand is a vital partner for India in several regional and sub-regional groupings, including ASEAN and the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC).

Key Agreements Signed

1. Memorandums of Understanding (MoUs): Several agreements were signed covering various areas of cooperation, such as the development of the National Maritime Heritage Complex (NMHC) at Lothal and the development of the North Eastern Region.
2. People-to-People Ties: A new India-Thailand Consular Dialogue will be established to enhance diplomatic and cultural exchanges.
3. Trade Facilitation: Both countries are exploring mechanisms to enable local currency-based trade settlements.

Overview of India-Thailand Relations

1. Diplomatic Relations: India and Thailand have maintained diplomatic ties since 1947.
2. Economic Ties: Bilateral trade between the two nations reached approximately USD 15 billion in 2023-24.
3. Defense Cooperation: Both countries engage in joint defense activities, including exercises like Exercise Maitree and INDO-THAI CORPAT (Coordinated Patrol).

 

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