Thailand and Kazakhstan have recently strengthened their economic and trade ties through the signing of the Agreement on Trade and Economic Cooperation.
The agreement, signed at the EXPO International Exhibition Center by Caretaker Prime Minister Phumtham Wechayachai and Kazakhstan’s Minister of Trade and Integration Arman Shakkaliyev, is designed to enhance collaboration between the two nations in various sectors.
Phumtham emphasized that this partnership will open doors to key markets in Central Asia, which boasts a population of over 80 million people, facilitating further cooperation in mutually beneficial areas.
In a bid to bolster trade relations, Phumtham invited Kazakhstani businesses to participate in Thailand’s international trade fairs and to engage in online business matching activities. He also announced plans for Thailand to establish a trade promotion office in Kazakhstan, which will play a strategic role in expanding trade across Central Asia and the broader Eurasian region. Additionally, discussions were held about initiating negotiations for a free trade agreement between Thailand and the Eurasian Economic Union to reduce trade barriers and boost investment opportunities.
Furthermore, the two countries recently signed a visa exemption agreement to promote tourism, which is expected to significantly increase tourist numbers and benefit both economies.
The Thai Chamber of Commerce has shown keen interest in Kazakhstan as a promising new market, noting its potential for sourcing essential raw materials and setting up processing facilities to serve markets in Eurasia, Central Asia, and Eastern Europe. (NNT)
