UAE and Thailand agree to enhance trade and investment cooperation

The UAE and Thailand agreed to advance cooperation in a wide number of sectors, in particular trade, logistics, energy, travel and tourism.

This was decided during a high-level visit to Thailand by Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade.

As part of the visit, Al Zeyoudi held a bilateral meeting with Phumtham Wechayachai, Thailand's Deputy Prime Minister and Minister of Commerce, in Bangkok. They discussed strategies to accelerate trade and investment flows and reviewed the progress of the Comprehensive Economic Partnership Agreement between the two nations, the negotiations for which are now on their fourth round.

Al Zeyoudi also met Sanan Angubolkul, Chairman of the Thai Chamber of Commerce, in which they outlined the opportunities in each other's markets, not only in trade but also joint ventures and SME collaboration.

Al Zeyoudi was accompanied by Obaid Saeed Al Dhaheri, UAE Ambassador to Thailand, and Juma Al Kait, Assistant Undersecretary for Trade at the Ministry of Economy. They also met Sanan Angubolkul, Chairman of the Thai Chamber of Commerce.

UAE-Thailand relations have been flourishing in recent years. Thailand is now the UAE's second-largest trading partner in the ASEAN bloc, accounting for 20 per cent of its trade within the region, while the UAE is Thailand's leading trading partner in the Middle East – and the 13th largest globally. In the first half of 2023, non-oil bilateral trade reached US$3.2 billion, a 3.7 percent increase on the same period in 2022.

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Al Zeyoudi said: "Thailand is an important trade and investment partner for the UAE, boasting one of the fastest-growing economies in South-East Asia and quickly solidifying its position as one of the region's most promising business hubs. Both sides acknowledge the benefits of deeper cooperation between our two nations, and we are working hard to deliver enhanced market access for our respective exporters, and create new projects and partnerships for our investors and SMEs. I look forward to working with Jurin Laksanawisit to build on the momentum that recent visits by ministers, government officials and business leaders have generated."

• UAE
• Asia