Thailand-RI countertrade

Thailand-RI countertrade

BANGKOK (Reuter): Thailand is preparing a memorandum of understanding (MOU) on a countertrade deal with Indonesia in which Indonesia will supply aircraft in exchange for Thai agricultural products, most likely rice and sugar, a Thai official said yesterday.

The MOU is due to be ready by the time Thai Prime Minister Banharn Silpa-archa visits Jakarta on April 24, the official said.

Under the agreement Indonesia will sell Thailand aircraft for agricultural use in exchange for Thai agricultural products, which are expected to be rice and sugar, the official said.

Thai Deputy Prime Minister Amnuay Virawan said last week that Indonesia had proposed buying Thai rice in exchange for the aircraft which he said were built with Spanish technology.

Neither Amnuay nor the official yesterday gave any indication of the quantity of Thai agricultural products which will be exchanged for the aircraft, details of which were not disclosed.