New Delhi, April 5 (IANS) Thai Prime Minister Abhisit Vejjajiva arrived here Tuesday on a day-long visit during which the fast-growing economic ties between both the countries are expected to gain momentum.

Abhisit arrived in a special aircraft from Bangkok in the early hours. In the morning, he was accorded a ceremonial reception at the Rashtrapati Bhavan, after which he met External Affairs Minister S.M. Krishna.

He also called on President Pratibha Patil and Vice President Hamid Ansari.

He is also scheduled to hold delegation-level talks with Prime Minister Manmohan Singh, who will host a banquet in his honour at Hyderabad House.

In the afternoon, the Thai prime minister attended a business luncheon hosted by the apex chambers of business and commerce, where he talked about increasing the bilateral trade to $10 billion in 2012.

India-Thailand bilateral trade has grown six times in the last 10 years to $6.6 billion in 2010. While Indian companies have made investments worth $1.6 billion, Thai investments in India at $800 million are only half that figure.

The two countries are concurrently discussing a comprehensive free trade agreement in goods, services and investments, with the latest round of negotiations held earlier this month.

Defence cooperation, culture and educational exchanges are expected to be other areas of discussions during Abhisit's visit.