The United States has recognized Thailand as a critical player in its economic security, following a recent visit by the President’s Export Council (PEC) and U.S. Secretary of Commerce Gina Raimondo to promote trade and investment opportunities.
The PEC’s report highlights the economic growth potential between the two nations and underscores the importance of their long-standing relationship.
Government Spokesperson Chai Wacharong stated that the PEC report, titled “REPORT OF THE PRESIDENT’S EXPORT COUNCIL: Reflections on Commercial Engagement in the Indo-Pacific and Recommendations for Strengthening the U.S.-Thailand Commercial Relationship,” was published on June 11th by the International Trade Administration.
The report praised Thailand’s warm reception and summarized the visit, which included beneficial discussions with Thai Prime Minister Srettha Thavisin and meetings with various Thai ministries such as Commerce, Digital Economy and Society, and Foreign Affairs. The U.S. delegation also engaged with the Thai private sector, gaining insights into Thailand’s trade and investment opportunities.
The report emphasized Thailand’s importance as a key Southeast Asian partner for the U.S., ranking as the 18th largest trade partner. In 2023, bilateral trade totaled approximately 72.1 billion US Dollars, with Thai investments in the U.S. valued at 2.5 billion dollars, creating thousands of American jobs. Prime Minister Srettha’s policy of making Thailand more open to foreign investment, including two visits to the U.S. to promote investment opportunities, was also highlighted in the report.
Chai remarked that the PEC report underscores Thailand’s significant role in supporting U.S. economic growth and acknowledges the Prime Minister’s efforts to strengthen U.S.-Thailand trade and investment relations. These efforts aim to attract foreign investment, boost economic efficiency, and benefit the Thai populace. (NNT)
