Thailand views free trade as vital to boosting investment in Asia
Thai Prime Minister Srettha Thavisin addressed Nikkei’s Future of Asia Forum in Tokyo on May 24, describing free trade as vital to boosting investment in Asia.
Thai Prime Minister Srettha Thavisin speaks at the Future of Asia forum in Tokyo on May 24 (Photo: asia.nikkei.com)
Bangkok (VNA) - Thai Prime Minister Srettha Thavisin addressed Nikkei’s Future of Asia Forum in Tokyo on May 24, describing free trade as vital to boosting investment in Asia.
Negotiations on free trade agreements (FTAs) should be a top priority, Srettha remarked, noting that Thailand has 15 FTAs with 19 countries, and talks on seven more are underway, including with the European Union.
Since taking office last year, Srettha has travelled widely to drum up trade and investment for Thailand. Before arriving in Tokyo for the forum, he had visited France and Italy.
He held that Asia should continue to support the multilateral trading system, with the World Trade Organisation (WTO) at its core.
According to him, green transition and digitisation are also key elements for the regional cooperation. Thailand is seeking more investment in green hydrogen and carbon capture, utilisation and storage (CCUS) technology, as well as to expand carbon credit markets, the PM went on.
Srettha added Thailand is determined to build the business ecosystem and enhance its global cꩵompetitiveness for investment. It has submitted a letter of intent to join the Organisation for Economic Cooperation and Development (OECD)./.
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Thailand’s Government has pledged to continue working towards enhancing welfare benefits in an effort to raise the quality of lives of all workers in Thailand, according to spokesman Chai Wacharonke, reported by the Bangkok Post.
The Ministry of Digital Economy and Society (DES) is advancing its plans to form a new national artificial intelligence (AI) committee as part of its effort to advance the second phase of the national AI strategy.
The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Member states also reviewed progress on six priority areas for 2025, including the development of an underground cable framework, the follow-up agreement to the ASEAN Petroleum Security Agreement (APSA), the launch of the ASEAN Energy Efficiency Database, and the rollout of an investment platform for sustainable building initiatives.
In March, Thai Prime Minister Paetongtarn Shinawatra met with Formula 1 chief Stefano Domenicali and said Thailand would commission a feasibility study into hosting a Grand Prix on a Bangkok street circuit from 2028.
The proposed giant sea wall aligns with bilateral cooperation and has been designated a national priority, considering that several regions in Indonesia are experiencing land subsidence of 10–15 centimetres per year.
International flights were cancelled including Jetstar and Virgin Australia flights to cities across Australia, and flights of Air India, Air New Zealand, Singapore's TigerAir and China's Juneyao Airlines.
The partnership aims to strengthen collaboration in the exploration and exploitation of mineral resources, including gold, copper, and manganese, as well as in the development of steel, aluminum, and renewable energy industries.
The Thai cabinet has approved a seven-year EV bus leasing scheme proposed by the Bangkok Mass Transit Authority (BMTA) for the capital, with an estimated cost of 15.35 billion THB (over 470 million USD).
Aircraft are prohibited from flying below 6,000 metres in the vicinity of the volcano, and should also remain alert to the presence of volcanic ash, which can disrupt flights.
Laos declared the transfer of the press management functions of five key media agencies and associated personnel to the Propaganda and Training Board of the Lao People's Revolutionary Party Central Committee.
Univers said in a statement that the new centre will serve as a hub for innovation, bringing together digital intelligence and climate ambition to accelerate Sarawak's transition toward a low-carbon, tech-enabled economy.
The target is to be completely free from plastic waste within two years. This can only be achieved if all parties implement the initiative with strong discipline.
Indonesia is taking new steps to improve protections for fishery workers, amid concerns over low wages, harsh working conditions, and limited access to social welfare.
The 2025 ASEAN- the Republic of Korea (RoK) Connectivity Forum that opened in Jakarta on June 17 reaffirmed a shared commitment to shaping a connected, resilient future by advancing the ASEAN Connectivity Strategic Plan.
The desk will serve as a service centre providing market intelligence, business licensing guidance, facilitating business cooperation, identifying potential investment projects, and harmonising regulatory policies between the two parties.
Malaysian Prime Minister Anwar Ibrahim noted that the Asia-Pacific region accounted for half of global energy consumption and 60% of greenhouse gas emissions in 2024. Despite this, regional countries, including eight of ten ASEAN member states, remain committed to climate goals, including net-zero emissions and tripling global renewable capacity by 2030.
