Australia has a longstanding and close relationship with Thailand, Australia's Foreign Minister Julie Bishop said in a statement. Formal diplomatic relations were established in 1952 and are today underpinned by a treaty-level Agreement on Bilateral Cooperation.
Thailand is now Australia’s sixth-largest trading partner, with merchandise trade worth $16.3 billion. We are pursuing further liberalisation through the Regional Comprehensive Economic Partnership (RCEP) negotiations.
Thailand is a significant source of inward direct investment for Australia, with the total stock valued at $4.6 billion in 2013. Australian companies are also actively pursuing business opportunities in Thailand, including in the transport, logistics, construction, manufacturing, financial services and education sectors.
People-to-people interaction between our two countries is significant. More than 900,000 Australians travelled to Thailand in 2013.