Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, embarked on a high-profile visit to Thailand aimed at strengthening bilateral ties and expanding cooperation across multiple sectors. In a meeting with Phumtham Wechayachai, Thailand’s Deputy Prime Minister and Minister of Commerce, both sides discussed strategies to accelerate trade and investment flows. One focal point of the discussion was the progress of negotiations for a Comprehensive Economic Partnership Agreement, which is now in its fourth round.
During the visit, Al Zeyoudi also engaged with Sanan Angubolkul, Chairman of the Thai Chamber of Commerce. Their discussions centered on the vast opportunities present in each other’s markets, encompassing not only trade but also potential joint ventures and collaborations involving small and medium-sized enterprises (SMEs).
UAE-Thailand relations have seen significant growth in recent years. Thailand currently stands as the UAE’s second-largest trading partner within the ASEAN bloc, constituting 20% of the UAE’s trade within the region. Simultaneously, the UAE holds the position of Thailand’s leading trading partner in the Middle East and ranks as the 13th largest globally. In the first half of 2023, non-oil bilateral trade reached a substantial $3.2 billion, marking a 3.7% increase from the same period in the previous year.
The visit exemplifies the commitment of both nations to fostering economic and trade collaboration, further cementing their position as vital partners in the global economic landscape. As the economies of the UAE and Thailand continue to evolve and diversify, this strengthened cooperation is poised to unlock new avenues for growth and prosperity.
