Thailand expects 31.33 billion baht in trade and investment with UAE

Thailand expects total mutual trade with the United Arab Emirates (UAE) to reach 31.33 billion baht following Deputy Prime Minister and Commerce Minister Jurin Laksanawisit’s visit to the UAE.

Deputy Government Spokesperson Ratchada Thanadirek said the Cabinet recognized the results of the Deputy Prime Minister and the Thai delegation’s visit to the United Arab Emirates (UAE).

The Deputy Prime Minister met with the UAE Minister of State for Foreign Trade to discuss various issues. The two countries agreed to complete the Comprehensive Economic Partnership Agreement (CEPA) within six months and agreed to promote mutual trade and investment through the establishment of the Thailand-UAE Business Council. The UAE is interested in investing in Thailand in the infrastructure sector, digital and food security.

The UAE has been asked to support Thailand’s bid to host the “Expo Phuket Thailand 2028” specialist exposition, and the Bureau International des Expositions will make a decision on this in June 2023.

The Deputy Prime Minister also witnessed the signing of agreements and MoUs between the Thai and UAE private sectors, including procurement agreements between five Thai companies and their respective UAE counterparts for four products, namely food, sanitary ware and tiles, automotive parts Components and melamine products totaled 1.33 billion baht.

He also witnessed the signing of the establishment of the Thailand-UAE Business Council, which is expected to generate 30 billion baht in revenue, and the signing of a memorandum of understanding on logistics cooperation between UAE logistics company DP World and its Thai counterpart. “World Logistics Passport” program. (TNA)