Deputy Minister of Commerce Suchart Chomklin has met with Patrick Hemmer, Ambassador of Luxembourg to Thailand, to discuss promoting trade and investment between Thailand and Luxembourg.
The discussions also covered the Thai-EU FTA negotiations and the Schengen visa waiver. Thailand encouraged Luxembourg, known for its strengths in finance, high technology, and as a major European financial hub, to expand its investments in Thailand. Thailand offers a strong infrastructure and a skilled workforce. The Luxembourg Ambassador announced a planned visit to Thailand later this year.
Suchart expressed readiness to support and facilitate activities to create trade and investment opportunities. He also invited Luxembourg businesspeople to participate in the Ministry of Commerce’s trade promotion events, such as international trade fairs and online business negotiations.
Furthermore, Deputy Minister Suchart requested Luxembourg’s support for the Thai-EU FTA negotiations, emphasizing the benefits for economic development and expanded trade and investment opportunities between Thailand and the 27 EU member states, including Luxembourg. He also sought support for the Schengen visa exemption for ordinary passports, to which the Luxembourg Ambassador expressed readiness to support both issues.
In 2023, Luxembourg was Thailand’s 155th largest trade partner, with total trade valued at USD 21.61 million. Thailand exported goods worth USD 8.03 million to Luxembourg, an increase of 15.64% from the previous year. Imports from Luxembourg were valued at USD 13.58 million, a decrease of 30.22% from 2022. Key exports included machinery, electric bulbs, internal combustion engines, cosmetics, and other industrial products.
Major imports from Luxembourg included machinery and components, steel and products, chemicals, plastic products, electrical machinery and components, glass, fabric, scientific and medical instruments, paper, and metal products. The discussions underscored the importance of enhancing economic cooperation between Thailand and Luxembourg and developing international trade relations. (NNT)
