11-10-2023 (BANGKOK) Thai Prime Minister Srettha Thavisin is set to make an official visit to Singapore, strengthening the bilateral ties between the two nations. The visit, scheduled for Thursday (Oct 12), comes at the invitation of Singapore’s Prime Minister Lee Hsien Loong, as announced by the Ministry of Foreign Affairs (MFA) on Wednesday.
This will mark Prime Minister Srettha’s inaugural official visit to Singapore, signifying the importance of the diplomatic relations shared between the two countries. During his stay, he will be accorded a ceremonial welcome and is scheduled to meet with President Tharman Shanmugaratnam at the Istana on Oct 12, 2023, as stated in the MFA’s official statement.
Prime Minister Srettha will also engage in a meeting with Prime Minister Lee, who will host an official lunch in his honor. The discussions are expected to cover a wide range of topics aimed at enhancing cooperation and collaboration between the two nations.
Accompanying Prime Minister Srettha on his visit will be senior officials from the Secretariat of the Prime Minister and Thailand’s Ministry of Foreign Affairs. This delegation signifies the significance and commitment attached to the visit, further fostering bilateral ties.
As part of his itinerary, Prime Minister Srettha will visit the Singapore Stock Exchange, showcasing the importance of economic cooperation and investment between Thailand and Singapore. The visit to the stock exchange underscores the mutual interest in exploring opportunities for further economic growth and strengthening trade relations.
The relationship between Singapore and Thailand has a rich history, with diplomatic ties established in 1965. Over the years, the two nations have cultivated strong ties in various sectors, including trade, investment, defense, and education. In 2002, the Singapore-Thailand Enhanced Economic Relationship (STEER) was launched, further deepening economic cooperation and promoting bilateral trade.
In 2022, Singapore emerged as Thailand’s eighth-largest trading partner, with Thailand reciprocating as Singapore’s ninth-largest trading partner. Bilateral trade between the two countries witnessed a significant increase, amounting to S$42.1 billion (US$30.9 billion) last year, marking a 23.4% surge compared to the previous year.
Furthermore, Singapore has become a major source of foreign direct investment for Thailand. In the first half of this year, Singapore accounted for 19% of the total foreign investment in Thailand, highlighting the strong economic ties and confidence in Thailand’s business environment.
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