Commerce Minister Suphajee Suthumpun meets Peru’s ambassador to strengthen trade ties and aims to conclude the upgraded Thailand–Peru FTA by 2025-end
Suphajee Suthumpun, Minister of Commerce, together with senior officials from the Ministry of Commerce, welcomed H.E. Ms. Cecilia Zunilda Galarreta Bazán, Ambassador of the Republic of Peru to Thailand, to discuss enhancing economic, trade, and investment cooperation between the two nations.
Both parties reaffirmed their shared commitment to accelerating negotiations on the Thailand–Peru Free Trade Agreement (FTA), with the goal of concluding the key elements by the end of 2025.
Strengthening a 60-year partnership
Thailand and Peru have enjoyed over 60 years of diplomatic relations, and both countries possess significant potential as economic partners. Suphajee said that modernising the 20-year-old FTA will create new opportunities for businesses in both nations across agriculture, processed food, automotive, machinery, and creative industries, while also improving supply chain connectivity and transport links between Asia and South America.
“The Peruvian ambassador expressed appreciation for Thailand’s commitment to advancing FTA talks,” Suphajee said. “Peru also highlighted its readiness in economic, trade, and infrastructure development, following the opening of the Port of Chancay in November 2024.”
Port of Chancay: Peru’s Pacific hub
Peru aims to make the Port of Chancay a logistics hub on the Pacific coast of South America, helping to increase import–export volumes between Asia and the region. Suphajee noted that this will give Thai entrepreneurs and exporters easier access to South American markets and expand opportunities for cooperation.
Expanding cooperation beyond trade
Both sides agreed to broaden cooperation through joint trade and investment activities, such as participation in major Thai trade fairs like Bangkok Gems & Jewelry Fair, THAIFEX–Anuga Asia, and THAIFEX–HOREC Asia, as well as business-matching events.
They also discussed extending collaboration beyond trade, covering tourism, culture, food, and fashion, including the promotion of Thai restaurants under the Thai Select programme to bring the peoples of both nations closer.
Suphajee reiterated Thailand’s determination to advance towards a sustainable and balanced Thailand–Peru economic partnership in the coming years.
Thailand–Peru trade snapshot
From January to August 2025, Peru ranked as Thailand’s 61st largest trading partner, while Thailand ranked 28th for Peru, with total trade amounting to US$362.49 million. Thailand recorded a trade surplus of US$189.91 million.
Thai exports to Peru were worth US$276.20 million, including automobiles and parts, canned and processed seafood, and washing machines and components.
Imports from Peru totalled US$86.29 million, comprising fresh, chilled, frozen, and processed seafood; metal ores and scraps; and fruits and vegetables, such as blueberries.
