In a significant move to bolster international relations, Thailand and Canada have affirmed their commitment to deepen trade and investment cooperation. The agreement was solidified during bilateral discussions between Thai Prime Minister Srettha Thavisin and Canadian Prime Minister Justin Trudeau at the 30th APEC Economic Leaders’ Meeting in the United States.
Thai Prime Minister Srettha Thavisin, who also serves as Finance Minister, underscored Thailand’s eagerness to welcome investors, emphasizing the region’s evolving role as a production hub in response to shifting global dynamics. He highlighted the increasing presence of foreign private sector leaders, particularly in the electric vehicle industry, and discussed Thailand’s attractive investment incentives.
Canadian Prime Minister Trudeau reciprocated this enthusiasm, expressing Canada’s keen interest in collaborating with Thailand both bilaterally and regionally. The focus is on extending their relationship across various sectors, aligning with Canada’s Indo-Pacific strategy. This strategy aims to foster cooperation with Thailand in response to the growing demand for flexible and resilient production capabilities within the private sector.
While acknowledging Thailand as a crucial trade partner, Prime Minister Trudeau noted the absence of a Free Trade Agreement (FTA) between the two nations. However, both leaders recognized the potential for mutual benefit through ongoing ASEAN-Canada FTA negotiations. These discussions present a promising opportunity for deeper economic integration and collaboration between Thailand and Canada.
As the global economic landscape continues to evolve, the commitment demonstrated by Thailand and Canada at the APEC Economic Leaders’ Meeting highlights their shared vision for fostering economic growth and resilience. The strengthened ties and ongoing negotiations present a positive outlook for future trade relations between these two nations, opening avenues for increased collaboration in the dynamic and interconnected global economy.
