Port Authority of India signed MoU to explore ties with Thailand

The Port Authority of Thailand (PAT) and the ports of Visakhapatnam, Kolkata and Chennai signed Memoranda of Understanding (MoU)s to increase export and import trade through cargo handling. The MoU was signed at the recently concluded Bay of Bengal Initiative for Multi-Sector Technical and Economic Cooperation (BIMSTEC) . This will help in strengthening bilateral ties between India and Thailand.  Through this MoU, Indian ports will be allowed to use Ranong, which is located on the western side of Thailand and is closer to India as compared to Thailand’s leading ports Bangkok and Laem Chabang. Ranong is a port on the Kraburi river peninsula near Myanmar. The Port Authority of Thailand has decided to develop it as world-class port. It is near the Indian Ocean coast.India wants to develop its ports as a strategic gateway to South East Asia.