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Thailand and Japan Enhance Economic Relations
Thailand's Commerce Minister, Pichai Naripthaphan, recently held talks with Keita Ishii, President of the Japan Chamber of Commerce and Industry, to explore ways to enhance economic relations between the two countries.
Thailand and Japan share a robust economic partnership, with Japan being a significant investor in Thailand. Notable Japanese companies, including Toyota Tsusho and Kawasaki Heavy Industries, have greatly contributed to the Thai economy.
Key Highlights:
- Thailand’s strategic location, skilled workforce, and favorable investment climate are attractive to Japanese businesses.
- The JTEPA is a significant step towards deepening economic ties and fostering a closer partnership between the two countries.
- Both Thailand and Japan recognize the importance of collaboration in addressing regional and global challenges.
Thailand’s Commerce Minister, Pichai Naripthaphan, recently held talks with Keita Ishii, President of the Japan Chamber of Commerce and Industry, to explore ways to enhance economic relations between the two countries.
Pichai expressed Thailand’s openness to boosting Japanese investments in electronics, semiconductors, artificial intelligence, and green energy. He also pointed out Thailand’s potential as a food-security hub, capable of storing and exporting agricultural products.
The Japan Chamber of Commerce and Industry, representing over 1.25 million businesses, pledged to strengthen economic cooperation with Thailand, citing its strategic location and skilled workforce. In 2023, bilateral trade reached US$55.86 billion, with both nations optimistic about their partnership’s future and committed to addressing global challenges together.
Strengthening Economic Ties
Japan has been a major investor in Thailand for many years, with notable companies such as Itochu, Kawasaki Heavy Industries, Sumitomo Corporation, and Toyota Tsusho making significant contributions to the Thai economy. During the meeting, Minister Pichai emphasized Thailand’s readiness to welcome increased Japanese investment, particularly in sectors such as electronics, semiconductors, artificial intelligence, and green energy. He also highlighted Thailand’s potential as a regional food-security hub, capable of serving as a storage and export center for agricultural products.
Source : Thailand and Japan strengthen economic ties
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