“Trade between the two countries is quite low and there is room for more cooperation between Thailand and India,” Thailand Board of Investment Deputy Secretary General Chokedee Kaewasang said here.

“Thailand and India are in a unique position to help each other. Thailand will help India in getting access to Asean [markets],” he added.

Kaewasang said more than US$200 million (Bt7 billion) has been invested by Indian companies in Thailand in the last two years.

The deputy secretary-general said that by 2022, Thailand’s government would invest $53.4 million in improving infrastructure.

“The government has identified so-called next-generation industries to enhance our competitiveness,” he said.

Stressing that the Thai government is focusing on digital infrastructure as well, Kaewasang said his government plans to invest $12 billion in digital infrastructure.

Speaking at the same event, Thailand’s Board of Investment executive director Bonggot Anuroy said the Thai government was ready to exempt import duties on the import of materials to Thailand by Indian companies.

She further said if any foreign company will establish its international headquarters in Thailand, they will get special tax incentive for up to 15 years.

Meanwhile, Prime Minister Prayut Chan-o-cha arrived in India on Thursday on a three-day visit aimed at deepening bilateral cooperation in areas of trade and investment, defence, security and tourism.

Prayut held extensive talks with his Indian counterpart Narendra Modi yesterday. Both sides are likely to explore ways to expand maritime security cooperation, deal with threat of terrorism and boost trade.

Issues related to the proposed Free Trade Agreement between the two countries are likely to figure in talks. The volume of current annual bilateral trade between the two countries in 2014 was at $8.6 billion and both sides are keen to expand it.