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Thailand, RoK boost trade ties at business forum

A Thai official has called for stronger economic collaboration between Thailand and the Republic of Korea while addressing a bilateral business forum in Seoul.

Bangkok (VNA) - Deputy Minister of Commerce Suchart Chomklin has addressed the IGNITE Thailand-Korea Business Forum in Seoul, encouraging stronger economic collaboration between Thailand and the Republic of Korea.

The event, held at Lotte Hotel Seoul, was organised by the Royal Thai Embassy in Seoul, the Industrial Estate Authority of Thailand, and the Herald Media Group to promote investment in next-generation industries.

In his address, Suchart invited RoK investors to explore opportunities in Thailand's growing green and digital sectors, including electric vehicles, clean energy, biotechnology, advanced electronics, digital technologies, and defence industries. He stated that Thailand’s strategic location and infrastructure projects, such as the Eastern Economic Corridor and the Land Bridge project, support the country’s role as a regional investment hub.

Thailand currently has 17 free trade agreements in force with 24 countries, and ongoing negotiations include the Thailand–RoK Economic Partnership Agreement, expected to conclude this year. The agreement is projected to strengthen long-term trade and investment ties between the two countries.

Suchart also attended the launch of the Cross-Border QR Code Payment Project between Thailand and the RoK, which is designed to streamline digital transactions and support the shift toward cashless economies in both nations.

Bilateral trade between Thailand and the RoK was valued at 14.74 billion USD in 2024, with Thailand exporting 6.07 billion USD worth of goods and importing 8.67 billion USD. Korean investment in Thailand also remained stable, with 38 investment promotion applications submitted that year, totaling more than 4 billion USD./.

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