Telangana inks MoU with Royal Thai goverment to promote trade

Hyderabad: Telangana State Industries and Commerce Department and the Ministry of Commerce, Royal Thai government entered into a Memorandum of Understanding (MoU) on Tuesday to promote trade and investment between both economies. The MoU was signed by Telangana Principal Secretary of Industries & Information Technology Jayesh Ranjan and Thailand Ministry of Commerce Permanent Secretary Boonyarit Kalayanamit. The signing ceremony was attended virtually by Telangana Minister for Industries K T Rama Rao and Thailand Deputy Prime Minister and Minister of Commerce Mr Jurin Laksanawisit. The MOU is to kick start the cooperation in SMEs and startups through the business incubator and innovation ecosystem “T-Hub” and “Thaitrade.com” of Thailand with Telangana State GlobalLinker, with the aim of promoting trade and investment between both economies, state Industries department said in a release here. Both the governments will explore the possibility of potential trade and investments in several key focus sectors, mainly involving agro-based food processing, wood processing and wood based industry. This is the first time in history, the MoU was signed between the Thailand Ministry of Commerce and the state government. The MoU signing ceremony is also one of the special events to celebrate the milestone of the 75th anniversary of diplomatic relations India have with Thailand.