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Thursday, July 25, 2024

Thailand Asserts Economic Readiness and Cooperation at APEC Summit

Amidst the 2023 APEC CEO Summit, Thailand reaffirmed its dedication to political stability while spotlighting its proactive economic policies. The nation’s focus on nurturing an environment conducive to trade, investment, and innovation was a central theme, highlighting Thailand’s openness to increased business collaboration and investments.

Prime Minister and Finance Minister Srettha Thavisin took the stage at the APEC private sector summit, underscoring Thailand’s eagerness for business partnerships after a period of stability. The government is fervently driving diverse economic policies aimed at amplifying growth, enhancing competitiveness, and positioning Thailand as a prime destination for trade and investment. Emphasis was placed on fostering an investor-friendly atmosphere while encouraging innovation and entrepreneurship.

Prime Minister Srettha outlined a vision that stressed cooperation through three key avenues: Sustainability via the “Bangkok Goals on the Bio-Circular-Green Economy,” technology and innovation, and trade and investment.

During discussions with Japanese Prime Minister Kishida Fumio, Thailand affirmed its readiness to collaborate for mutual benefit and regional advancement. It expressed eagerness for the upcoming ASEAN-Japan Commemorative Summit and anticipated an official visit to Japan in the near future.

Highlighting support for Japan’s automotive industry transition, Prime Minister Srettha outlined plans to propel Thailand as a hub for the final phase of combustion engine vehicle production while accelerating electric vehicle (EV) industry development. The Thai government aims to strategize, including direct engagements with Japan’s private sector, following the Prime Minister’s directives to relevant agencies.

Japan expressed interest in sustained collaboration in areas of shared interest, seeking Thailand’s facilitation for Japanese business investments. Specifically, the Japanese Prime Minister proposed easing business visa requirements for Japanese entrepreneurs, aiming to enhance investments in Thailand.

Henri Ghazara
Author: Henri Ghazara

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