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Thailand Seeks to Enhance Economic Integration with Hong Kong
Commerce Minister Pichai Naripthaphan details a strategy aimed at strengthening trade relations and promoting free trade agreements with Hong Kong and other international partners.
Thailand is aiming to enhance its economic ties with Hong Kong as part of a broader initiative to strengthen its position as a regional trade center and to foster free trade agreements with global partners.
During a speech at a business luncheon in Hong Kong on Friday, Commerce Minister Pichai Naripthaphan emphasized the strong economic connections between Thailand and Hong Kong, especially within the Guangdong-Hong Kong-Macao Greater Bay area.
At the event, organized by the Hong Kong Economic and Trade Office in collaboration with the Thai-Hong Kong Trade Association, Minister Pichai pointed out existing agreements such as the double-taxation treaty, the investment promotion and protection agreement, and the ASEAN-Hong Kong Free Trade Agreement as vital tools for enhancing trade and investment.
He also mentioned the significance of the Regional Comprehensive Economic Partnership, the largest free-trade agreement in the world, in facilitating regional economic integration.
The minister outlined Thailand’s intentions to further liberalize its economy and attract foreign investment in key industrial sectors, while collaborating with Hong Kong to develop a strong financial hub.
Thailand’s economic performance in 2024 demonstrated positive growth, with exports rising by 5.4 percent and investment promotion achieving a decade-high of 1.13 trillion baht.
Bilateral trade between Thailand and Hong Kong amounted to 17.04 billion US dollars in 2024, reflecting a 24.3 percent increase from the previous year.
Thailand is currently intensifying free trade agreement negotiations with various partners, including the European Free Trade Association, which was finalized in Davos in January, and is engaged in discussions with the European Union, Israel, Bhutan, the United Arab Emirates, South Korea, Canada, and the United Kingdom.
Minister Pichai highlighted Hong Kong’s essential role as a gateway to China's global trade and financial connections, positioning Thailand as a bridge to ASEAN markets for both Hong Kong and China.
The Commerce Ministry has committed to supporting businesses in identifying trade and investment opportunities within the region.
During a speech at a business luncheon in Hong Kong on Friday, Commerce Minister Pichai Naripthaphan emphasized the strong economic connections between Thailand and Hong Kong, especially within the Guangdong-Hong Kong-Macao Greater Bay area.
At the event, organized by the Hong Kong Economic and Trade Office in collaboration with the Thai-Hong Kong Trade Association, Minister Pichai pointed out existing agreements such as the double-taxation treaty, the investment promotion and protection agreement, and the ASEAN-Hong Kong Free Trade Agreement as vital tools for enhancing trade and investment.
He also mentioned the significance of the Regional Comprehensive Economic Partnership, the largest free-trade agreement in the world, in facilitating regional economic integration.
The minister outlined Thailand’s intentions to further liberalize its economy and attract foreign investment in key industrial sectors, while collaborating with Hong Kong to develop a strong financial hub.
Thailand’s economic performance in 2024 demonstrated positive growth, with exports rising by 5.4 percent and investment promotion achieving a decade-high of 1.13 trillion baht.
Bilateral trade between Thailand and Hong Kong amounted to 17.04 billion US dollars in 2024, reflecting a 24.3 percent increase from the previous year.
Thailand is currently intensifying free trade agreement negotiations with various partners, including the European Free Trade Association, which was finalized in Davos in January, and is engaged in discussions with the European Union, Israel, Bhutan, the United Arab Emirates, South Korea, Canada, and the United Kingdom.
Minister Pichai highlighted Hong Kong’s essential role as a gateway to China's global trade and financial connections, positioning Thailand as a bridge to ASEAN markets for both Hong Kong and China.
The Commerce Ministry has committed to supporting businesses in identifying trade and investment opportunities within the region.
