22-9-2023 (NEW YORK) Thailand is set to fortify its trade relations with the United States as the two nations commemorate 190 years of diplomatic ties, affirmed Prime Minister Srettha Thavisin.
The Prime Minister made this declaration following a meeting with U.S. President Joe Biden during a gala dinner hosted by the US-Asean Business Council (USABC) and the US Chamber of Commerce (USCC) on Wednesday (in U.S. local time).
The Thai delegation, headed by Mr. Srettha, is currently participating in the 78th Session of the United Nations General Assembly (UNGA78) in New York, scheduled to conclude on Sunday.
Mr. Srettha, who also holds the position of Finance Minister, shared that President Biden had extended his congratulations on his premiership and received assurance that Thailand would continue to be a dependable trading partner.
Anticipating forthcoming discussions, the Prime Minister revealed that both sides are slated to engage in bilateral talks during the Asia-Pacific Economic Cooperation (APEC) Leaders’ Meeting in San Francisco this November.
Furthermore, Mr. Srettha held meetings with various foreign leaders, including the Prime Minister of Estonia, an Eastern European nation renowned for its advanced e-government system.
Regarding this encounter, he mentioned that Estonia has been approached for the transfer of its e-government expertise to Thailand. The objective is to enhance Thailand’s civil service system, reduce bureaucracy, and combat corruption.
Foreign Affairs Minister Jakkapong Sangmanee underscored that Sustainable Development Goals (SDGs) feature prominently in the discussions at UNGA78. Participants have been exploring strategies to overcome obstacles in achieving these goals by 2030.
Mr. Jakkapong asserted, “In the future, numerous projects will be implemented to ensure clean air for the Thai populace and to attain carbon neutrality. The Thai government places great significance on this issue.”
He disclosed that the Foreign Affairs Ministry is actively working on business matchmaking activities to facilitate connections between Thai and foreign companies interested in investing in eco-friendly ventures—a trend that aligns with the SDGs and is gaining global traction.
Government spokesman Chai Wacharonke provided a summary of Prime Minister Srettha’s remarks during the gala dinner.
The Prime Minister expressed his delight at the opportunity to meet many influential business leaders, highlighting the profound interest and importance that the American business community attributes to Thailand.
He expressed hope that the event would serve as a platform for networking and fostering new partnerships to further strengthen the ties between the two nations and their economies.
Thailand and the United States are viewed as natural partners with mutual benefits, particularly within their business communities, whose relationship has witnessed remarkable growth.
Following the global pandemic, bilateral trade experienced a robust resurgence, surpassing $65 billion last year. Notably, the United States regained its position as Thailand’s second-largest trading partner for the first time in 15 years, underscoring the resilience of the closely interconnected supply chain supporting both nations.
On the investment front, Thailand welcomed over $1.1 billion in U.S. investments last year, positioning the United States as the third-largest investor in Thailand. Meanwhile, Thai investments in the United States have also been on the rise, reaching approximately $13 billion to date.
Prime Minister Srettha affirmed that his government’s top priority is to rekindle Thailand’s competitiveness, solidifying its status as a premier investment destination and an economic engine for the region.
He pledged the government’s commitment to fostering a more favorable investment climate, with a focus on enhancing regulatory efficiency, digitizing government services, and streamlining processes while offering attractive incentives for foreign investment.
“Now is the time for you to do more business in Thailand,” urged the Prime Minister.
In a Facebook post, he further expressed his confidence in the country’s economic policies, emphasizing their potential to drive growth and expand opportunities for businesses in Thailand, the ASEAN region, and across the globe.
