Thailand is seeking to strengthen economic cooperation with Japan, focusing on future industries and inviting investment in the Landbridge project. The discussions aim to enhance strategic partnerships and promote tourism between the two countries.
Deputy Prime Minister and Minister of Commerce Phumtham Wechayachai met with Masahiro Komura, Japan’s Assistant Minister of Foreign Affairs, to discuss these initiatives. Phumtham highlighted the long-standing relationship between Thailand and Japan, which marks its 137th anniversary this year. He emphasized the strategic partnership established in 2022 and noted Japan’s position as Thailand’s top investor, with nearly 6,000 Japanese companies operating in the country.
The meeting underscored the potential of the Landbridge project, which aims to become a crucial trade and transport hub connecting the Pacific and Indian Oceans. Minister Phumtham invited Japanese investors to expand their investments in Thailand, particularly in the automotive industry, both combustion and modern vehicles, and in the Eastern Economic Corridor (EEC) for other high-potential industries such as medical devices, robotics, and clean energy.
Additionally, both parties discussed easing travel between the two countries for tourism and business. Phumtham invited more Japanese tourists to visit Thailand and highlighted the government’s plan to extend the visa-free stay from 30 to 60 days to facilitate longer business engagements and cultural exchanges. He also requested Japan to facilitate travel for Thai tourists and businesspeople.
Phumtham confirmed Thailand’s readiness to participate in the Thailand Pavilion at Expo 2025 in Osaka, showcasing Thai innovations in traditional medicine, food, and other soft power assets. Currently, Japan is Thailand’s third-largest trading partner, with trade value reaching 21.431 billion US Dollars in the first five months of 2024.
The discussions also included increasing Japanese investment in Thailand’s targeted industries and addressing transitional plans to meet new global standards. Phumtham expressed confidence that Japan’s expertise in technology and Thailand’s logistics advantages could make Thailand a central production hub for the automotive industry.
Phumtham’s engagement with Japanese leaders aims to bolster economic ties and facilitate significant investments that align with Thailand’s strategic development goals. (NNT)
