In a significant move aimed at strengthening international alliances, Thailand’s Prime Minister, Srettha Thavisin, has publicized his plan to enhance trade relations with the United States. This noteworthy initiative coincides with the historical milestone of 190 years of diplomatic connections between the two nations.
The decision was disclosed following a high-profile gathering between Prime Minister Srettha Thavisin and US President, Joe Biden. The occasion in question was a grand gala dinner, which was put together by esteemed entities such as the US-ASEAN Business Council and the US Chamber of Commerce. The reinforced bond between Thailand and US marked the 78th session of the United Nations General Assembly in New York, which concluded on a Sunday.
Juggling dual roles, the Thai Prime Minister, who also serves as the finance minister, revealed that Biden applauded him on his ascension to the prime ministerial role. Srettha assured Biden of Thailand’s unwavering commitment as a reliable trading ally and expressed eager anticipation for the regimens that the two nations would partake in during the Asia-Pacific Economic Cooperation Leaders’ Meeting scheduled in November in San Francisco.
On his visit, Prime Minister Srettha met with other world leaders, prominently, the Prime Minister of Estonia. The latter is illustrious for its advanced e-government system. Looking to imbibe and emulate such a progressive system, Srettha expressed his country’s interest in acquiring Estonia’s expertise to improve Thailand’s civil service system to counter corruption.
Jakkapong Sangmanee, Thailand’s Foreign Affairs Minister, emphasized the importance of Sustainable Development Goals at the UN assembly. The discussions involved brainstorming on strategies to surpass challenges to accomplishing the objectives set for achievement by 2030.
Aligning with global sustainable development trends, Jakkapong unveiled the plans to conduct business matchmaking activities. This initiative will encourage Thai and foreign companies to invest in green businesses.
The government’s spokesperson, Chai Wacharonke, encapsulated the essence of PM Srettha’s gala dinner discourse. The 61-year-old prime minister illustrated his delight and optimism in interacting with esteemed business leaders. This engagement underlies the importance that the American business community attaches to Thailand. PM Srettha expressed a confident hope that new alliances stemmed from this interaction would fortify the economic connectivity between Thailand and the US.
In the aftermath of the global pandemic, Thailand and the US have witnessed a considerable recovery in bilateral commerce hitting beyond US$65 billion in the last year, reclaiming the US’s rank as Thailand’s second-largest trading partner after 15 years. This indicates the flexible and intrinsically linked supply networks that benefit both nations.
Thailand has also been a favored investment destination for the US, receiving over US$1.1 billion last year, thereby ranking third in Thailand’s investment billboard. At the same time, Thai investment in the US has seen a massive inflow, amounting to approximately the US$13 billion.
The Bangkok-based PM accentuated his administration’s dedication to reignite Thailand’s position as a leading regional investment hub. The government is fully committed to fostering a favorable investment environment and enhance the digitization of government services to encourage foreign investments.
As a parting note, PM Srettha encouraged more businesses to explore investment opportunities in Thailand. In a Facebook post that followed, he confidently stated that Thailand’s lucid economic policies would fuel growth and generate opportunities for businesses in Thailand, ASEAN, and other global communities.
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