2024-12-20
Thailand's Trade Minister Pichai Naripthaphan is leading a delegation to Japan from December 20 to 23, 2024 to strengthen economic relations and promote the country's soft power. The visit marks an important step in deepening the cooperation between the two countries in trade, technology and culture.
A strategic alliance for the future
During the visit, the Trade Minister will participate in the ASEAN-Japan Economic Co-Creation Forum 2024 in Tokyo. The forum brings together leading players in politics, trade and industry to discuss future cooperation opportunities. One of the highlights is meetings with top executives from major Japanese companies such as Hitachi and Mitsubishi Electric Corporation. The goal is to attract new investment to Thailand and promote Thai products and services in the Japanese market.
Soft power and culture as economic strategy
Part of the strategy includes an event at Shibuya Crossing in Tokyo, highlighting Thai products and services to strengthen cultural ties and promote Thailand as a global player in food and culture. Minister Pichai will also give a lecture at the University of Tokyo on Thailand's political and economic landscape.
Financial goals and potential
Japan is Thailand's third largest trading partner, with bilateral trade of $55,8 billion in 2023. Through the visit, Thailand hopes to increase exports by 2-3% in 2025, representing revenues of over 10 trillion baht.
Thailand and Japan's Economic Relations
Trading partner:
- Japan: Thailand's third largest trading partner.
- Trading volume: 55,8 billion USD (2023)
Purpose of the visit:
- Strengthen trade relations.
- Promote Thai products and services.
- Attract Japanese investment in technology and innovation.
Highlights:
- Meetings with Hitachi and Mitsubishi Electric Corporation.
- Event at Shibuya Crossing to showcase Thai products.
- Lecture at the University of Tokyo on Thailand's political and economic strategy.
Thailand's three largest trading partnerss:
1. China:
- Trading volume: Over 100 billion USD (2023)
- Strong sectors: Electronics, machinery, agricultural products.
2. United States:
- Trading volume: Approximately 60 billion USD (2023)
- Strong sectors: Vehicles, electronics, textiles.
3. Japan:
- Trading volume: 55,8 billion USD (2023)
- Strong sectors: Vehicles, machinery, electronics.
The information is based on reporting from NNT – National News Bureau of Thailand. See the original clip here.
Text: The editorial staff
Image license: kimura2, Pixabay, original image