Further discussions on boosting bilateral commerce between Thailand and Turkey, including negotiations for a free trade agreement (FTA), took held during the Fourth Meeting of the Thai-Turkish Joint Committee on Economic and Technical Cooperation (JETC).
Thai Deputy Prime Minister and Foreign Minister Don Pramudwinai met with Turkey’s Minister of Industry and Technology Mustafa Varank in Ankara. Both countries jointly co-chaired the 4th JETC to renew bilateral cooperation.
The fourth JETC conference, held 20 years after the last session in 2003, focused on collaboration within the JETC framework. Both parties stated their commitment to pursue high-level conversations in order to strengthen bilateral cooperation, particularly in light of similar geopolitical problems such as food and energy security.
One of the topics covered at the conference was the need to expedite talks for a Free Commerce Agreement (FTA) between Thailand and Turkey in order to grow bilateral trade to $2 billion. Both parties also discussed increasing reciprocal investment, particularly in Thailand’s Eastern Economic Corridor, as well as prospective areas of collaboration such as science, technology, and innovation, renewable energy, the Bio-Circular-Green (BCG) Economic Model, and the military industry.
Following the meeting, both ministers presided over the signing of a memorandum of understanding on development links between the Thailand International Cooperation Agency and the Turkish Cooperation and Coordination Agency. They also signed the minutes of the most recent JETC meeting, which will serve as a template for future cooperation, as well as fostering new potential areas of partnership, such as defense frameworks.
