PM's Germany trip expected to give momentum to bilateral trade
The German-Thai Chamber of Commerce foresees a bigger window of opportunity to boost bilateral trade after the visit in July of Prime Minister Yingluck Shinawatra to the world's fourth-largest economy.
The reopening of Myanmar is also expected to boost the chamber’s role in promoting German investment in the country, after the European Union temporarily lifted sanctions against the country, paving the way for European firms to invest for the first time in decades.
Thailand’s Foreign Minister Surapong Towichukchaikul confirmed last weekend that Yingluck will visit Germany on July 24. In 2012, Germany and Thailand are commemorating the 150th anniversary of the establishment of diplomatic relations through the signing of the Friendship, Trade and Shipping Treaty on February 7, 1862. This year also marks the 50th anniversary of the trade chamber, which has more than 500 German companies as members.
Karl-Heinz Heckhausen, president of the German-Thai Chamber of Commerce, said Thai companies accompanying the delegation would visit different regions of Germany and get updated on the 3 million German firms which are of small to multinational size. Aside from promoting bilateral trade, the chamber is hopeful of opening up opportunities for Thai-German joint ventures.
"Despite the airport shutdown and shooting [in 2009 and 2010], history shows that Thailand is safe. It’s the best place to invest. Thai companies also must venture out of the country. Through this trip, they will learn more about Germany’s diversified economy," he said.
Last year, German firms won Board of Investment approval for 36 investment projects worth
