In an engaging demonstration of global partnership strategy, Prime Minister Srettha Thavisin of Thailand, in a recent meeting, communicated to his Canadian and Australian counterparts—Justin Trudeau and Anthony Albanese—that the Land of Smiles is ready and eager to bolster foreign investment. This announcement came in the backdrop of an emerging global trend where businesses are making a shift to the flourishing Asean region.
A high-ranking government spokesperson, Chai Wacharonke, disclosed this development, adding that the discussion with the Canadian Prime Minister took place in the stunning city of San Francisco, at the Asia-Pacific Economic Cooperation (Apec) Summit. Both leaders expressed optimism about enhancing cooperation in a wide variety of areas, solidifying mutual growth prospects that Apec is expected to bring forth.
Prime Minister Srettha used the Apec platform to make it known that Thailand is prepared to host foreign investors, tailoring its readiness towards the trend of businesses making the Asean region their new home. He particularly highlighted Thailand’s appeal to leading automobile manufacturers from across the globe, who have expressed interest in establishing production bases for electric vehicles (EVs) in this Asian nation.
This burgeoning interest is not without precedent. The Thai government has been proactive in cultivating a conducive environment, offering a plethora of incentives to attract investments in emerging technologies. The aim is to make Thailand a crucial hub in this arena, noted Mr. Chai.
In addition to this, other topics discussed included strengthening bilateral ties with Canada, exploring possibilities for enhanced cooperation under Canada’s Indo-Pacific Strategy, and the breath of potential offered by the Asean-Canada Free Trade Agreement (FTA). It is evident that Thailand seeks to solidify its global relationships on an economic front.
Fluttering from one important dialogue to another, Mr. Srettha also met the Australian Prime Minister, Anthony Albanese. Amid their discussions were the prospect of exploring investment opportunities in Thailand and an invitation extended to the premier to participate in a special summit, scheduled in Australia to commemorate the 50th anniversary of Asean-Australian relations. Both leaders acknowledged the notable progress made in realizing an advanced FTA in addition to emphasizing the importance of enhancing people-to-people exchanges and boosting tourism, thereby suggesting a multi-dimensional approach to progress.
A delicious nugget of inside information disclosed by Cherdchai Chaivaivid, Director General of the Department of International Economic Affairs of the Ministry of Foreign Affairs, involves Mr. Srettha sharing a table with President Joe Biden at the Apec Gala Dinner. A meaningful conversation, spanning two hours, hinted at the possibility of a more personal bond between two world leaders.
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