FRIDAY, February 23, 2024
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Jurin makes case for closer trade, investment ties between Thailand and Japan

Jurin makes case for closer trade, investment ties between Thailand and Japan

Thailand and the Japan-Thailand Trade and Economic Committee, also known as Keidanren, have agreed to strengthen the relationship between the two countries on trade and investment, Commerce Minister Jurin Laksanawisit said on Tuesday.

He was speaking after a discussion with two Keidanren presidents, Suzuki Yoshihisa and Suzuki Jun, at Government House in Bangkok.

Jurin makes case for closer trade, investment ties between Thailand and Japan

Jurin said Japan is important for Thailand in boosting trade and investment. He said Japan is considered Thailand's third largest trade partner behind China and the US.

"Last year, trade between Thailand and Japan was up to 2 trillion baht, of which Thai exports accounted for 855 billion baht," he said. "As many as 14,846 Japanese firms invested in Asean, of which up to 6,000 firms invested in Thailand."

He added that Japan is paying attention to trading with Thailand as well.

Jurin makes case for closer trade, investment ties between Thailand and Japan

Jurin said discussions with Keidanren covered cooperation between the government and the private sectors of the two countries.

Regarding bilateral cooperation, he said the ministry has discussed a Japan-Thailand Economic Partnership Agreement, to facilitate trade and investment among the private sector of the two countries.

"On multilateral cooperation, Thailand and Japan are working on the Regional Comprehensive Economic Partnership and Indo-Pacific Economic Framework for maximum benefits on trade and investment," he said.

Jurin makes case for closer trade, investment ties between Thailand and Japan

Thailand has the Eastern Economic Corridor and other economic zones where Japanese firms can invest, Jurin said, adding that they can receive investment privileges from the Board of Investment.

He added that Keidanren has praised Thailand for its potential as Japan's supply chain.

"Keidanren will meet with the Joint Standing Committee on Commerce, Industry and Banking on promoting cooperation between the private sector of the two countries," he added.

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