(CTN News) – Following a recent visit by the President’s Export Council (PEC) and US Secretary of Commerce Gina Raimondo to promote trade and investment possibilities, the US has acknowledged Thailand as an important actor in its economic security.
The PEC’s report emphasizes the two countries’ economic growth potential and the significance of their long-standing partnership.
According to government spokesperson Chai Wacharong, 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 lauded Thai’s cordial welcome and highlighted the tour, which included fruitful conversations with Thai Prime Minister Srettha Thavisin and meetings with Thai ministries including Commerce, Digital Economy and Society, and Foreign Affairs.
The US group also met with Thai private sector representatives to learn more about Thailand’s trade and investment potential.
According to the research, Thailand is the United States’ 18th largest trade partner in Southeast Asia. Bilateral commerce is expected to total roughly 72.1 billion US dollars in 2023, with Thai investments in the United States valued at 2.5 billion dollars, producing thousands of American employment.
The report also highlighted Prime Minister Srettha’s policy of making Thailand more open to foreign investment, which included two visits to the United States to promote investment prospects.
Chai stated that the PEC report emphasizes Thailand’s important role in promoting US economic growth and recognizes the Prime Minister’s efforts to strengthen US-Thai trade and investment relations. These activities seek to attract international investment, improve economic efficiency, and benefit Thai citizens.
